BUS 307 Operations Management & Quantitative TechniquesA survey of relevant quantitative techniques commonly used in accounting, business, and information systems. Topics will vary but, typically, elementary probability theory and applications, decision theory, and linear programming are included. Prerequisite: Fulfillment of the General Education Mathematical competency.Value Index. Complete Problem 1 from the end of Chapter 2: You have just graduated from college and are looking to buy your first car. Money is tight right now, so you are concerned with initial cost as well as ongoing expenses. At the same time, you don’t want to drive a slow, ugly car like your parents do. You have narrowed your choices down to two vehicles: a Honda Enigma and a Porsche Booster. Based on the rankings in the table (found under Chapter 1, Problem 2 in the textbook), calculate the value index for each car. Which car provides you with the greatest value? Use formulas to calculate the answer to one decimal point. Respond to at least two of your classmates’ postingsBusiness Mapping of Processes. From Chapter 3, Problem 13, read the current home equity loan process at Faircloth Financial and map the current process. Identify any rework loops and delays in the process. What causes these? What is the impact on cycle times? How might this affect customers’ willingness to do business with Faircloth? What changes might you recommend to redesign this process with the needs of the customer in mind? Respond to at least two of your classmates’ postings.Gantt vs. Network Based Approach. From the end of Chapter 5, complete Discussion Question 3: What are the main advantages of using a network-based approach to project management rather than a Gantt chart? Under what circumstances might a Gantt chart be preferable to a network-based approach? Respond to at least two of your classmates’ postings.Expected Values and Decision Trees. From the end of Chapter 8, consider the two capacity options for Arktec manufacturing from Problem 2 and the three possible demand scenarios from Problem 4, then complete Problem 5. First, draw the decision tree for Arktec Manufacturing. When drawing your tree, assume that managers must select a capacity option before they know what the demand level will actually be. Then, calculate the expected value for each decision branch. Which option would you prefer and why? Respond to at least two of your classmates’ postings.Forecasting Models. From Chapter 9, answer Discussion Question 1: Which forecasting techniques do you think Ford should have used to forecast changes in the demand, supply, and price of palladium? Time series models? Causal models? Qualitative models? Justify your answer and respond to at least two of your classmates’ postings.Pros and Cons of Outsourcing. From Chapter 10, answer Discussion Question 1: What are some of the pros and cons of outsourcing? Why do you think many firms are experiencing an increase in their levels of outsourcing? Respond to at least two of your classmates’ postings.Spend Analysis. From the end of Chapter 11, read the Case Study: The ABCs of Spend Analysis. Respond to the following questions in a one to three page document to submit to your instructor. The submission must adhere to APA style guidelines and should include at least two scholarly references.a. Why are data analysis skills and thinking so important to spend analysis? Can’t software applications be used to generate the information needed automatically?b. How might a structured process such as Six Sigma methodology (Chapter 3) be useful here?c. Why is it important to get other functional areas, notably finance, involved in spend analysis efforts? Can you think of some other functional areas that should be involved?Level vs. Chase Production Plan. From the end of Chapter 13, answer Discussion Question 3: In general, under what conditions might a firm favor a level production plan over a chase plan? A chase production plan over a level plan? Respond to at least two of your classmates’ postings.JIT/EOQ/ROP Interrelationships. From the end of Chapter 14, answer Discussion Question 6: The just-in-time (JIT) movement has long argued that firms shoulda. Maximize their process flexibility so that ordering costs are minimal;b. Stabilize demand levels;c. Shrink lead times as much as possible; andd. Assign much higher holding costs to inventory than has traditionally been the case.Using the economic order quantity (EOQ) and reorder point (ROP) formulas, explain how such efforts would be consistent with JIT’s push for lower inventory levels. Respond to at least two of your classmates’ postingsERP Solutions. From the end of Chapter 15S, answer Discussion Question 4: SAP is the world leader in enterprise resource planning (ERP) systems software, and has developed tailored ERP systems for different industries. Go to SAP Industry Solutions and examine the solutions for (1) a service industry and (2) a manufacturing industry of your choice. How are they similar? How are they different? Respond to at least two of your classmates’ postings.Calculation of Kanban Cards. From the end of Chapter 16, answer Discussion Question 4: The chapter notes that kanban is not a planning tool but a control mechanism. What does this mean? How does the Marsica MRP-kanban example in Example 16.4 in Chapter 16 of the textbook illustrate the point? Respond to at least two of your classmates’ postings.Focus of the Final Paper The final assignment for the course is a Final Paper on two cases. The Final Paper should demonstrate understanding of the reading as well as the implications of new knowledge. The eight- to ten-page paper should integrate readings and course discussions into work and life experiences. It may include an explanation and examples from previous experiences as well as implications for future applications.Read the case study at the end of Chapter 15 and the case study at the end of Chapter 16, and thoroughly answer all the following questions. Supplement your answers with scholarly research using the Ashford Online Library. Each case study should be addressed in four to five pages, resulting in a combined Final Paper of eight to ten pages.Chapter 15 Case Study: The Realco Breadmaster1. Develop a master production schedule for the breadmaker. What do the projected ending inventory and available-to-promise numbers look like? Has Realco “overpromised”? In your view, should Realco update either the forecast or the production numbers?2. Comment on Jack’s approach to order promising. What are the advantages? The disadvantages? How would formal master scheduling improve this process? What organizational changes would be required?3. Following up on Question 2, which do you think is worse, refusing a customer’s order upfront because you don’t have the units available or accepting the order and then failing to deliver? What are the implications for master scheduling?4. Suppose Realco produces 20,000 breadmakers every week, rather than 40,000 every other week. According to the master schedule record, what impact would this have on average inventory levels?Chapter 16 Case Study: A Bumpy Road for Toyota1. Is Toyota’s focus on quality consistent with the Lean philosophy? Can a firm actually follow the Lean philosophy without having a strong quality focus? Explain.2. Who are the “coordinators” referred to in the article? What role have they played in educating Toyota’s workforce in promoting the TPS (Toyota Production System) philosophy? Why are they so hard to replicate?3. According to Hajime Oba, what is wrong with Detroit’s approach to Lean? Based on your understanding of American auto manufacturers, do you agree or disagree?4. There is an old saying “Haste makes Waste.” How does this apply to what is happening in the Georgetown plant? What is Toyota doing about it?
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