Lower inventory levels make processes

Turn 1

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 1

Question: What is the main difference between “make-to-order” and “make-to-stock” systems?

Answer: Make to stock or MTS is done when operational managers have production that allows for inventory based off of demand forecasting. Where as Make to order or MTO means orders are made upon order. This allows customers to make more customization with their order.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 $9,813.01 $11,913.01 100 No

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Turn 2

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 2

Question: Why would the quality of incoming raw materials be as important as the cost of those materials?

Answer: Quality is important because it allows customers to have options. When ordering you have to know what quality to order prior to looking at the cost of that material.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 $9,660.58 $11,760.58 100 No

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Turn 3

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 3

Question: What are possible reasons that a firm may choose to carry raw materials in inventory before they are actually required for production?

Answer: So that they dont have to include lead time from the raw material manufacture. This will allow operational managers to start on a product as soon as the get the order.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 $7,730.00 $9,830.00 100 No

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Turn 4

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 4

Question: Why is inventory seen as a form of “waste” in lean systems?

Answer: in a lean system you try to reduce as much cost as possible. Inventory has a cost associated to it. The cost of storing it, inventorying it, and the cost of it if the material goes bad.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 $5,130.59 $7,230.59 100 No

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Turn 5

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 5

Question: In a “just-in-time” system, why is it important to have reliable suppliers?

Answer: With Just in time systems you are relying on your material supplier to have your supplies to you in a quick turn around time. With this system you dont have a lot of built up stock to rely on. This helps managers reduce waste and efficiently manage their employees time.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 $4,264.98 $6,364.98 100 No

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Turn 6

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 6

Question: Why do suppliers offer quantity discounts?

Answer: to promote higher sales. The more stock we take away from them the more they room they have to increase their inventory.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 -$560.62 $1,539.38 100 No

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Turn 7

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 7

Question: Why is inspection of raw materials often an inefficient means of improving the quality of the stock?

Answer: because it requires man hires and employee cost to inspect it. It may be just as cheaper and quicker just to order a new supply of the quality that is needed.

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 0 0% 0% $0.00 -$2,385.98 -$285.98 100 No

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Turn 8

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 8

Question: What are the potential costs of carrying inventory?

Answer: potential cost of carrying inventory are the cost of taxes, employee cost, depreciation, insurance, storage, and cost of opportunity

Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer

brooks hale 0 0 1 100% 100% $3,000.00 -$2,002.17 $97.83 135 No

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Turn 9

Name: Module 2 for Week 3 Lecturer: OPS571 July

Description:

Turn: 9

Question: Why do suppliers offer discounts for orders with longer lead times?

Answer: Because it allows them to have plenty of time to make the product. This allows for other orders to be expedited if need be and also allows room for the unpredictable.