In addition, we learned that forecasting requires quite a bit of data to be useful since we were unable to predict the peak demand until we were close to the dates. For example, if you want to know the demand required for the next 3 days lead-time starting on day 105. We also reorder point kits and reorder quantity kits , giving us a value of 49 and 150. In the initial months, demand is expected to grow at a roughly linear rate. We thought we might finish in the top five, but not first. These reports enable factory managers to quickly assess performance, make Littlefield strategy decisions, keep the entire team in sync, and beat their competitors. During the tryout you will receive several factory reports.
We could have used different strategies for the. Figure 1: Day 1-50 Demand and Linear Regression Model Figure 1: Day 1-50 Demand and Linear Regression Model With little time to waste, Team A began by analyzing demand over the first 50 days of operations in order to create a linear regression model to predict demand into the future in order to make critical operational decisions; refer to Figure 1. The objective information within the paper was distinguished by the use of quantitative data. By not being able to change many options within this round, we were unable to take action to address our mistake of purchasing machines too early. Thus, we did not know which machine is suitable for us; therefore, we waited 95 days to buy a new machine.
With much anticipation we reviewed all the literate that was provided subsequently to assist us in decision making at Littlefield Technologies. Handy search and sure as hell complimentary service are certain! Immediate and comprehensive information helped us to measure and amend and as such execute our strategy. We knew that the demand would follow the same pattern of increasing to a point, leveling off, and then decreasing at the end. You can link this spreadsheet with your own spreadsheet full of littlefield calculations and save yourself lots more time. We are making money now at station 2 and station 3. Managing the demand for the kits was new for this simulation since in the last simulation it was taken care of for us.
Words: 1090 - Pages: 5. This calculation will give us the average number of daily orders and thus the average number of raw material kits needed, assuming the ratio of 1:1 between receivers and raw material kits remains constant. The more machines you buy, the more money it costs you. Data for all groups were collected after all machine purchases explaining the small number of observations for Group 1. And then we applied the knowledge we learned in the class, did process analysis and modified our strategies according to the performance results dynamically. Some describe it as addictive. Change the reorder quantity to 3600 kits.
How can a patient have a good experience in the healthcare system? Changing lot size : We changed lot size for 3 times. This kind of ended up being the most up-to-date information your woman could get employed for your paper. It allowed us to quickly assess the events of the simulated day and act accordingly. Littlefield Technologies charges a premium and competes by promising to ship a receiver within 24 hours of receiving the order, or the customer will receive a rebate based on the delay. In addition to this factor, we thought that buying several machines from different stations would decrease our revenue in the following days. Another big piece was demand changes. In an interview with for the Stanford Graduate School of Business' website, the program's creators, Sunil Kumar and Sam Wood, recommend that student gamers use their knowledge accumulated from concurrent coursework as much as possible while using the 14-day simulation.
We hope that the next Littlefield round would allow for more options so that we could apply more analysis and gain first place. Little Dashboard monitors your factory and emails you up-to-date results. This left the factory with zero cash on hand. In addition, the data clearly showedprovided noted that the demand was going to follow an increasing trend for the initial 150 days at least. The average lead time declined to under a half a day during factory days 69 through 76. Show analysis to justify your conclusions. It is important to balance those two conflicting objectives.
Station two Testing Machine and three Tuning Machine had some slack time, but once we purchased another board stuffing then the utilization increased each day with both station two and three. It was apparent that both Stations 1 and 3 were operating at full capacity, frequently hitting 100% utilization. Many entrepreneurs postpone the sale of their business due to uncertainties and a fear of not getting what they want. Should have bought earlier, probably around day 55 when the utilization hits 1 and the queue spiked up to 5 98 Buy Machine 1 The utilization of Machine 1 on day 88 to day 90 was around 1. The text also mentioned that small variations in reorder quantity do not matter much and so people usually round to a convenient number. Change the reorder quantity to 3600 kits. LittleField In the LittleField Game 2, our team had to plan how to manage the capacity, scheduling, purchasing, and contract quotations to maximize the cash generated by the lab over its lifetime.
We bought more reorder point kits and sold it for. In addition, the ability to monitor competitor's revenue allowed us to see what actions they are taking. Our strategy throughout the stimulation was to balance our work station and reduce the bottleneck. We knew that if we were going to buy a fifth machine we should do it as soon as possible to maximize the return on investment. If they are operating below capacity and fulfilling orders on time, the amount should be equal to the contract they were operating when the order arrived.
A good friend of mine, Gene Lee, is excited about operations, and we both had a really good time doing Littlefield the first time around. Group 3 was a three-way split. These reports enable factory managers to quickly assess performance, make Littlefield strategy decisions, keep the entire team in sync, and beat their competitors. The second piece is a little bit tougher. Currently there is one board stuffing machine, one tester, and one tuning machine. Before buying machines from two main stations, we were in good position among our competitors. As a medical student, one of the things I was frustrated with is the number of patients waiting in the emergency room.