To achieve this goal, our team did the initial planning by using 50 days of historical data. As we have more data being provided, we ranredo regression analysis constantly to forecast the orders. Group 3 was a three-way split. The Exit Strategy — We do not have control of the factory during the last days of its life.
Previously we had been stockpiling inventory by purchasing more as soon as money was available to purchase, but we realized that we may be missing out on nontrivial interest payments. We figured out that there is a tradeoff between capacity and waiting time. This basic analysis indicated that we would immediately need to purchase at least one station 1 machine to handle the current demand.
In gameplay, the demand steadily rises, then steadies and then declines in three even stages. So, we Littlefield technologies simulation 1 report not to sell any machine. Changing the way Station 2 is scheduled: Timing to purchase machined: There is another consideration in the decision to purchase a fifth machine for Station 1.
These reports enable factory managers to quickly assess performance and make Littlefield strategy decisions. With the 2-way split we were meeting our service level agreements more consistently resulting in higher customer satisfaction and higher profits per job.
The regression analysis minimizes the mean squared error between the actual points and the regression line. Those reactive e machine buying strategies y happened before Day We hope this exit strategy works. During Stage 4, we explored job splitting as a solution to the SLA problem.
We chose to stay with the 2-way split not only because it had the highest average revenues, but also because the 2-way split had the lowest variance.
The title implies that we should be concerned about the consistency with which we deliver on our service level agreements SLAs. If your demand profile is more complex and has more than one knee in the curve e.
Large batches lead to large inventory; small batches lead to losses in capacity. If the queue for Station 2 is high, we set the priority to 2 2 to increase the initial test. We calculated the reorder quantity using the equation: Transactions on Education, Miyaoka recommends not taking too much stock in reducing lot size because "smaller lot sizes cause queuing problems at stations 1 and 3.
Meanwhile,If we sell, i selling the machinet may also affect the performance of the factory. Teams that are successful will not overbuy production capacity during the peak, as it will leave them with excess capacity when demand dies down.
We kept alive monitoring and found that this strategy which worked well. However, we waited until the lead times become so long that we are making little revenue before we buy machines.
Quote 5 years ago "I am absolutely convinced that the success of my team in the Littlefield game was due to our ability to make rapid decisions. We tried to adjust various parameters not to lose money, at the same time, make money as much as possible for factory.Littlefield Technologies is an online factory management simulator program produced since by Responsive Learning Technologies for college students to use while taking business management courses.
Report abuse. Transcript of Littlefield Simulation 2. Littlefield Simulation 2 - Executive Summary Decisions Made Reorder point to 63 and reorder quantity to Station 2 - Priority to step 4 Contract number 2 Buy machine 3 Buy machine 2 Contract number 3 Contract number 2.
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Uploaded by.5/5(4). April 8, Group Report 1: Capacity Management The following is an account of our Littlefield Technologies simulation game. The account includes the decisions we made, the actions we took, and their impact on production and the bottom line.
Littlefield Technologies Simulation 1 Summer Team Chelsea Koo, Chris Kim, Hee-Yoon Choi, Quentin Hsu, Taryn McNamee Strategy description Revenue maximization: Our strategy main for round one was to focus on maximizing revenue. We did not want the revenue to ever drop from $, so we took action based on the 96%().
Executive Summary Our team operated and managed the Littlefield Technologies facility over the span of simulated days. Our team finished the simulation in 3rd place, posting $2, in cash at the end of the game.Download