Team A will present a proposal package for Riordan Manufacturing Company’s electric fans. This proposition analyzes the importance of the MRP in regard to the fans. In addition, a newly created process design for the production of the electric fans, and a…
This is to inform you that the aggregate operations plan for Riordan’s electric fans will include “targeted sales forecasts, production levels, inventory levels, and customer backlogs” (enotes, 2011). The plan that is produced will be done to satisfy the demand forecast at offer better customer service.…
The market for electric fans is affected by the changing economy. Riordan’s major customers will be affected and should be analyzed to determine how the economy will affect the future of Riordan (Apollo Group, 2004). A time series analysis should be used, based on the history of the last three years to predict the future production. Since, the demand is not growing or declining rapidly a moving average can be used by using an average of the previous years’ demand, giving each year equal value (Chase, Jacobs, & Aquilano, 2006).…
The Demand Analysis is a tool for marketing and production to evaluate and forecast the future market demand for each product in each segment. The Demand for the following year is calculated based on the initial growth rate given for the segments in the industry. Table 3 shows the results of calculating the annual…
To maximize their profits Riordan Manufacturing might consider the following in becoming more efficient, the electric motors used in the fans are completely assembled units purchased from a local…
13. Forecasting demand in MRP Systems is based on the past demand patterns for components.…
Learning Team C has completed the analysis of Riordan Manufacturing’s electric fan design process and has developed a proposal outlining the changes that need to be implemented. The team is proposing to focus on total quality management (TQM); this will allow Riordan to remain focused and efficient in areas of opportunity, and to excel in all aspects of the electric fans that are important to customers. The team’s recommendation is to use quality at the source that will address the following scenarios: proper training for employees, holding employees accountable, and incentives to help motivate employees. TQM will also be implemented within the supply chain including suppliers and transportation; this will decrease costs and improve on-time delivery to customers, which will increase sales.…
•Lokesh Chandana FT152087 Case – Problems & Issues Problems : •To identify a forecasting technique so as to forecast the demand for existing products as well as new products. Issues : •Best fit model ?? •Problems associated with each forecasting model ?? •Performance of the used model ??…
The goal over the course of the next three months is to implement a new Inventory Process that will allow Riordan Manufacturing, Inc. to create and deliver electric fans in a more efficient and accurate manner. The implementation of Radio Frequency Identification (RFID), inventory-tracking system will stream line throughput, increase productivity, and reduce production costs. In the current outdated design process, many problem areas in the assembly line process can occur, such as bottlenecks, mistakes, and inaccurate counts. The proposed system will address problem areas by introducing a just-in-time production strategy to improve return on…
Strategic capacity planning starts with better use of resources by reducing trade deficit, a factor that continues to reduce estimates for economic growth. The electric motors used in the fans are completely assembled units. Regardless of the contracts it receives for yearly quantities of bottles that each customer orders, the customers actually provide release orders for smaller quantities throughout the year against the yearly totals. These release orders are received at random since each customer's requirement for bottles varies as a function of the variability of the sales of the customer's final products that use the bottles.…
A seasonal factor is the amount of correction needed in a time series to adjust for the season of the year, (Chase, Jacobs, & Aquilano, 2006). Since the product is fans, it is acceptable to assume that demand for the product will increase seasonal by region. Hotter temperatures will warrant higher demand for the product and an increase in the sellable inventory and production speed. Cooler temperatures will create less demand and require less inventory and decreased production. As the world moves into green technology, Riordan will also be required to re-develop their product to be more energy efficient and therefore more desirable to the consumers. Riordan will use multiplicative seasonal variation to accurately forecast the need for the fans during seasonal transitions. In this case, the forecast will equal trend times seasonal…
Riordan Manufacturing manufactures many different plastic items ranging the gambit from medical devices, to bottles to electric fans. In the last year the Hangzhou plant has averaged 93% in its on-time deliveries (Apollo Group Inc., 2012). This proposal package will detail a plan for obtaining Riordan’s goal of 99% on-time delivery of the electric fans and reduce the on-hand stock of inventory to reduce costs (Apollo Group Inc., 2012). The proposal will detail a Materials Requirement Plan (MRP), a new process design for the fans, an estimated production forecast determined by past sales, and an implementation plan detailing the timeline for implementing the changes.…
Develop Aggregate Production Plan, Master Schedule, and Materials Requirement Plans for electric fans based off the sales forecast. Be sure to include the following:…
We first predict the annual demand for the year 1972 based on trend for 4 months of 1972 based on corresponding months of 1971.…
analyze the current capacity and output levels vis-à-vis the demand as per the forecasts and then…