Machine Purchase: "Eliminate Bottleneck, Minimize Q" 1) Day - 56: Purchase Board Stuffer @ Station 1 Bottleneck was Station #3. 1. Analysis of the First 50 Days 9 As expected, the contracts with lesser lead-times fetch the company higher revenues per day. In other words, we first needed to find daily average demand and match it to the Littlefield Labs system capacity. 100% (5) 100% found this document useful (5 votes) 13K views. 209 This lasted us through the whole simulation with only a slight dip in revenue during maximum demand. Based on initial management analyses, customer demand for this new product is expected to be random, but the average demand will be level over the products 268-day lifetime. By accepting, you agree to the updated privacy policy. This weeks key learning areas have been eye opening and worthwhile. Processing in Batches We did not take any corrective measure to increase our profit margins early in the game. 217 By doing so we have a Gross profit of $1,125,189, |production increase. Later however, as the demand increased, it became increasingly complex and difficult for me to predict the annual demands needed for correct EOQ and ROP calculations. Unfortunately not, but my only advice is that if you don't know what you're doing, do as little as possible so at least you will stay relatively in the middle Littlefield Simulation Report. Uploaded by zilikos. Pre-production market research suggested that the average daily demand level would be somewhere between 10 orders/day and 14 orders/day. Summary of articles. However, by that time, we had already lost huge revenues and the damage had been done. After a few months of detailed scrutiny of the numbers, we were able to make pricing decisions more quickly by using the breakeven change in volume to set the new price. This decision was taken based on a demand of 91 jobs and a utilization of station 1 of 0.83 between days 143 and, This paper will provide an analysis of 2 production scenarios. However, management has found that historic lead times[1] during the first 50 days of production often extend into several days, and so they have been unwilling to quote the shorter lead times to customers. However, this space currently was leased to another company on a year-to-year basis and was generating annual rent of. An implication of this study is that tangible stock-flow tasks are as difficult for humans to control as are purely cognitive tasks. ROI=Final Cash-Day 50 Cash-PP&E ExpenditurePP&E Expenditure 1,915,226-97,649-280,000280,000=549% Although we had the choice to produce as much as 30,000 units, we felt as though we did not have sufficient money to increase production. Right now I'm doing social work by purchasing the inventory and then selling it for zero revenue. Initially we set the lot size to 3x20, attempting to take advantage of w . Lastly we chose the right contract among our 3 options to maximize the profits according to daily average job lead-time. Littlefield Simulation | Case Study Solution | Case Study Analysis So, after 360 days, plant will shut down and the remaining inventories and machines will be disposed of. We found our calculations to be performing reasonable well during the initial phases of the simulation. As demand began to rise we saw that capacity utilization was now highest at station 1. Because all stations were at times operating at full, we knew that all would create a bottleneck if left to operate as is. 3 | makebigmoney | 1,141,686 | This means that the last 50 days of the simulation period cannot be influenced through any decision-making either. We wanted our inventory to drop close to zero to minimize overall holding costs, but never actually reach zero. Choose skilled expert on your subject and get original paper with free plagiarism The account includes the decisions we made, the actions we took, and their impact on production and the bottom line. Since the demand was fairly constant, it was not essential to change the reorder point. Therefore, we took aproactive approach to buying machines and purchased a machine whenever utilization rates rose dangerously high or caused long queues. Learn faster and smarter from top experts, Download to take your learnings offline and on the go. As you continue reading, you will see my strategy unfold, the obstacles that I have faced, and the improvements that I will be developing in the near future., At this point, our team should have reevaluated our decisions, and purchased a new machine for Station 1, in order to get production moving faster to Station 2. The first was that the area be implications of the growing role of private military companies (PMCs) for governing global politics 4. Project At our first meeting we analyzed the first given 50 days so that we could get the daily average demand and SD (Standard Deviation). Littlefield Simulation Strategy : r/MBA - reddit The five options for cost cutting are reducing agency staff, downsizing staff, reducing benefits, changing the skill mix, and reducing length of stay for the patients. Get original paper in 3 hours and nail the task. Ending Cash Balance: $1,915,226 (6th Place) Once the initial first 50 days of data became available, we plotted the data against different forecasting methods: Moving average, weighted moving average, exponential smoothing, exponential smoothing with trend, and exponential smoothing with trend and season. Initially we set the lot size to 320, attempting to take advantage of what we had learned from the goal about reducing the lead-time and WIP. The results support the value of simulations for building operational understanding of accumulations and suggest design considerations that may further increase the effectiveness of such SBLEs. In this simulation we decided to take the message of The Goal and apply it as fast as we could. We then determined our best course of action would be to look at our average daily revenue per job (Exhibit 7) and see if we could identify any days when that was less than the maximum of $1,000/job, so we could attempt to investigate what days to check on for other issues. Preparation is necessary to have an advantage. Leena Alex The second Littlefield simulation game focused on lead time and inventory management in an environment with a changing demand (but the long-run average demand will not change over the products 268-day lifetime). Nevertheless, although we ranked 4th (Exhibit 1: OVERALL TEAM STANDING), we believe we gained a deeper understanding of queuing theory and have obtained invaluable experience from this exercise. We set up a spreadsheet to forecast demand ev 0 6 comments Best Add a Comment camcamtheram 2 yr. ago While focusing on immediate goals keeping long term goals in mind is also important. s While selling capacity was the correct financial decision to combat our emergency loan, we were then left with stock outs in all of our product lines. Day 53 Our first decision was to buy a 2nd machine at Station 1. To say that we had fully understood which scheduling to choose and when, will be wrong. 5 PM on February 22 . The decision depends on the expected lead-time, which we promise to the customer. Even if negotiations succeeded, however, a binding treaty could not be ratified or implemented, By clicking accept or continuing to use the site, you agree to the terms outlined in our. 2, We had three priority scheduling choices at station-2: FIFO, Items from station-1 and Items from station-3. Machine configuration: This taught us to monitor the performance of the, machines at the times of very high order quantities when considering machine. Fortunately, none of other team were close; otherwise, this shortcoming would have mattered. Borrowing from the Bank pratt10. The company started off producing 20,000 units of mountain bikes. Customer Demand Start decision making early. Closer to Day 50, shop floor space constraints are limiting the number of jobs being accepted into the factory. Base on the average time taken to process 1 batch of job arrivals, we were able to figure out how Thundercats Our strategy was to keep track of each machines capacity and the order queue. Littlefield Simulation - YouTube regarding contract management and machine additions quite early, e.g. Customer orders processed within 1 day make $1000 Customer orders that take over 3 days make no money Between 1 and 3 days revenue is a decreasing linear function. Thus we decided to change the most pressing variable, inventory, and see where it went from there. Ranking 20 corporate profile part 2 security controls and risk mitigation recommendation Corrections and crime and crime prevention.docx, Corporate finance essay fin 4610 Baruch College.docx, corporate research assignment My Nursing Experts.docx, Corporate entrepreneurship nursing writers.docx, Corporate security major security and.docx, Correctional goals and prison privatization.docx, No public clipboards found for this slide, Enjoy access to millions of presentations, documents, ebooks, audiobooks, magazines, and more. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. Furthermore, implementation of these changes would not affect in any of the daily operations schedules. Do a proactive capacity management : Machines. You can read the details below. Littlefield Simulation Analysis - Term Paper - TermPaper Warehouse Management is currently quoting 7-day lead times, but management would like to charge the higher prices that customers would pay for dramatically shorter lead times. A linear regression of the day 50 data resulted in the data shown on Table 1 (attached)below. It has been successfully used at the graduate and undergraduate level by thousands of students at more than a dozen universities. This proposal, when implemented, can save up to Rs. We have reinforced many of the concepts and lessons learned in class and had a better understanding of the operation of the Littlefield Technologies facility and how certain modifications would affect the throughput and lead time. Course Hero is not sponsored or endorsed by any college or university. us: [emailprotected]. We did many things right to win this simulation. Having more machines seemed like a win-win situation since it does not increase our expenses of running the business, yet decreases our risk of having lead times of over a day. This, combined with the fact that queues were not growing in front of either Station 2 or 3, suggested that Station 1 was the bottleneck in the process. The SlideShare family just got bigger. 145 The objective was to maximize cash at the end of the product life-cycle (270 days) by optimizing the process design. PMCs are different from traditional military contractors, which more often than not are referred to as defense contractors. The new product is manufactured using the same process as the product in the assignment Capacity Management at Littlefield Technologies neither the process sequence nor the process time distributions at each tool have changed. Eventually, demand should begin to decline at a roughly linear rate. LittleField Simulation 1 & 2 Overview Flashcards | Quizlet Operations Policies at investment in the machine. The goal of our company was to make money, so we needed to upgrade to contract 3 as quickly as possible. Therefore our strategy to win this game was controlling the Littlefield Labs system capacity and the inventory level with choosing a right contract as well as keeping the cash daily as much as possible. We did not have any analysis or strategy at this point. Managing Capacity and Lead Time at Littlefield Technologies Team 9s Summary Starting at 5 PM on Wednesday, February 27, the simulation will begin The game will end at 9 PM on Sunday, March 3. Page | 5 1.0 Introduction Littlefield Simulation is a game widely used in management courses that replicates a manufacturer's decision making mechanism. Registered address: Louki Akrita, 23 Bellapais Court, Flat/Office 46 1100, Nicosia, Cyprus Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. Activate your 30 day free trialto continue reading. However, observed 100% Utilization at Station #1 with the 17x more queued kits. It is now nine months later, and Littlefield Technologies has developed another DSS product. The company has been functioning well in terms of generating profit and demand so far. Littlefield Laboratories has opened a new blood testing lab. Here are our learnings. REVENUE We did intuitive analysis initially and came up the strategy at the beginning of the game. Reflecting on the simulation exercise, we have made both correct and incorrect decisions. Management requires a 10% rate of return on its investments. 241 Littlefield Technologies was developed by Sunil Kumar and . By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. Littlefield Simulation DEMAND ANSWER : Littlefield 1. Initially we set the lot size to 3x20, attempting to take advantage of what we had learned from the goal about reducing the. The goal of setting the inventory policies is to avoid inventory stock outs and the decision-making is typically based on ordering the optimum inventory quantity (EOQ) at right reorder-points (ROP) i.e. Background In case you can't find a relevant example, our professional writers are ready Littlefield Technologies Executive Summary - Round 2.docx, Depends on language None of these Question No 8 Marks 1 Please choose one, A11 Mean and variance of sum of random variables Consider a set of random, In the short run the marginal cost curve crosses the average total cost curve at, Additional work is needed to better un derstand the role of stress and, 9 To become suppliers to MNEs local firms must satisfy strict requirements about, Thrombocytes and platelets function in clotting Thrombocytes are cells found in, D Direct labor hours Question 17 A company has budgeted overhead costs at its, Acts Page 200 36 Since therefore no one can gainsay this ye ought to be, A 950 B 725 C 720 D 2150 E 2750 5 A closed cylindrical tank contains 36pi cubic, Bus 321 Final GameStop Employee Retention.docx, For a 1 2 the volume element shrinks in each iteration step and goes asymp, Grid Association Matrix (Fillable)_COMPLETE.pdf, NEW UPDATED INTRODUCTION TO HUMANITIES DISSCUSION LP6 PART 1.pptx, Short-Term Memory and Working Memory.docx. The decisions to be made are regarding buying or selling machines, setting inventory policies i.e. Littlefield Stimulation field paper group strategies for the little field simulation game our primary goal for the little field simulation game is to meet the DismissTry Ask an Expert Ask an Expert Sign inRegister Sign inRegister Home Ask an ExpertNew My Library Discovery Institutions Southern New Hampshire University StuDocu University from the word go. Littlefield_1_(1).pptx - 1 Littlefield Labs Simulation Professor Littlefiled simulation game 1. This article summarizes the nine contributions to the symposium on system dynamics. Press J to jump to the feed. At s the end of this lifetime, demand will end abruptly and factory operations will be terminated. After viewing the queues and the capacity utilization at each station and finding all, measures to be relatively low, we decided that we could easily move to contract 3, Except for one night early on in the simulation where we reduced it to contract 2, because we wouldnt be able to monitor the factory for demand spikes, we operated, on contract 3 almost the entire time. Anita Lal . However, it was because we did not create a safety margin for production which came from our over estimating our carrying costs. LITTLEFIELD SIMULATION REPORT To be able to give right decision and be successful in the simulation, we tried to understand the rules in a right way and analyzed yearly forecasts to provide necessary products to the customers on time (lead time) for maximizing our profit. Initial Strategy : When the simulation first started we made a couple of adjustments and monitored the performance of the factory for the first few days. Following, we used regression analysis to forecast demand and machine productivity for the remaining of the simulation. $600. This project attempts to model this game using system dynamics approach, which allows realistic representation of the production system of Littlefield . Management has used process time estimates from your first report to calculate a stable capacity configuration. At day 97, our team ranked first in the overall standing, and wanted to try to maintain this standing for the rest of the simulation., Finally, on day 150 we try an all in strategy spending $160.000 in 1 machine for station 1 and 2 to increase the capacity and to process jobs only on conditions of contract 3. 265 2013 Exhibit 1 : OVERALL TEAM STANDING These teams had to figure out their strategies and activities on the go. Hence, we will increase our capacity levels where demand is forecasted to peak. at Littlefield Technologies Spring 2007( submit it as your own as it will be considered plagiarism. 113 Retrieved from https://graduateway.com/littlefield-technologies-simulation-batch-sizes/, The Family Tradition of Making a Huge Batch of Ravioli as a Cultural Identity, Differentiating Between Market Structures Simulation. As this is a short life-cycle product, managers expect that demand during the 268 day period will grow as customers discover the product, eventually level out, and then decline. Cash Balance Figure Our revenue per day improved to 200 $/day. 1. We decided in favor of the second option. 5000 Customer demand continues to be random, but the expected daily demand will not change during the labs life span. I started to decide the order quantity and reorder points based on my own gut feel but considering the previous simulation settings and live simulation behavior. I then multiplied that by the obvious 60 minutes per hour to determine the output from each machine center each hour. PMC personnel are directly involved in combatant roles when the contract provides for the delivery of military capacities. (2016, Dec 02). Because we hadnt bought a machine at station 1 we were able to buy, the one we really needed at station 3. This suggested that perhaps the priority of scheduling needed adjustment; so on day 66 the team changed Station 2 priority from FIFO to give preference for Step 4 units. A collaborative backcasting game, AudaCITY, developed to build transformative capacity in city administrations while also generating deep contextual knowledge to inform a transformative sustainability science research agenda is presented. View the full answer. It has been the central topic for many resolutions, special committees, and peacekeeping efforts over the last sixty years. The product lifetime of many high-tech electronic products is short, and the DSS receiver is no exception. Day | Parameter | Value | 1 | bigmoney1 | 1,346,320 | On 28 April 1947 a special session of the UN General Assembly established the Special Committee on Palestine (UNSCOP), which had the task of investigating all of the questions surrounding the problems in Palestine and to recommend solutions to be considered by the General Assembly later that year. In the beginning of the simulation itself, we had decided to be proactive in lead-time management and hence go for the aggressive contracts. By doing this, we could produce all incoming kits with a priority enabling an even flow of kits to Station 3. We did switch the lot size to 3 by 20 early in the simulation since we know that smaller batch sizes can speed up production. In March, April, and May will fire 4, 3, 3, employees respectively. Littlefield Simulation | PDF | Inventory | Simulation - Scribd The profit parameter was considered as an average. We were afraid to go to the 5 by 12 because of the large setup time at stations one. 72 hours. We did not change the production quantity.