MGT-510 Operations Management;Final Project;This project is designed to demonstrate that many of the concepts we have been studying are tied;together in a single enterprise. For this exercise you are the operations manager for the local Acme;Tricycle Company and will need to put together the plan for 2012.;The following information is applicable to all problems.;The indented BOM for a tricycle is presented below;A Completed Tricycle;B(1) Frame;C(2) Rear Wheel Assembly;D(1) Rear Wheel;E(1) Rear Tire;F(1) Axle Assembly;G(1) Front Wheel Assembly;H(1) Front Wheel;I(1) Front Tire;J(1) Handle Bar Assembly;K(1) Handle Bar;L(1) Stem;M(2) Hand Grips;N(1) Seat Assembly;O(1) Seat;P(1) Stem;You have the following parts inventory on hand at the beginning of 2012;A B C D E F G H I J K L M N O P;200 500 250 650 400 450 750 420 375 210 575 600 2500 850 1050 850;Demand for 2011 was;Month Demand Month Demand;January 1200 July 2300;February 1300 August 1900;March 1000 September 2400;April 1400 October 2700;May 2000 November 3300;June 1700 December 3300;Production time is 0.5 hours per unit (2 units/hr) Assume 20 Workdays per month;Average Labor Cost is $10/hour Shortage Cost is $20 per unit;Overtime Cost is $15/hour Inventory Cost is $5 per unit;Workweek is 5 days, 8 hours per day Hiring Cost is $100, Layoff Cost is $200Due to your contract with the union, you can only hire new workers at the beginning of Quarter 3.;Layoffs can only occur at the end of Quarter 2. Overtime is authorized only in Quarters 2 and 4. You;currently have 10 assembly workers on staff.;Quarter 1 = Jan, Feb, Mar;Quarter 2 = Apr, May, Jun;Quarter 3 = Jul, Aug, Sept;Quarter 4 = Oct, Nov, Dec;The following ordering information is available for Rear Tires;Cost per order is $12;Annual Holding Cost is $0.50 per unit;Assume 240 work days per year that tires are required;Lead Time ? 10 days;Assignment;Given the information above;1. Using Least Squares Regression, calculate the demand forecast for each month of 2012 (round each;forecast up to the nearest whole number for ease of calculations).;2. Using your forecast, calculate the quarterly production plan for 2012.;3. Draw the Product Structure Tree for the tricycles.;4. Determine for the month of January 2012 what your net requirements for all BOM components are.;5. Using the actual tricycle demand for 2011 and the Q-Model, calculate the Optimal (Economic) Order;Quantity and Reorder Point for Rear Tires.;6. Design and Diagram a process for assembling the tricycles.
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