Manufacturing Systems Design Coursework – Pareto Analysis
(a)
A Pareto analysis is a statistical technique in decision making and uses the rule known as the 80/20 rule, meaning in this context that 20% of the product is cumulatively making 80% of the profits. Pareto Analysis can be used in many forms of business
(b)
Selection of a manufacturing system for a company is one of the most important decisions that it can make and takes due considerations to many factors including, the product, cost, inventory etc. Selection of a system that is not appropriate for the specific product could cost a company a lot of money from either the start-up and set up of the systems initially implemented but does not fit and again the cost to set up a new manufacturing
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Products L1, L8, L9, L7, L6 and L5 all contribute to around 82% of the total annual sales, meaning products L4, L3 and L2 make up the remaining 18%. As the volume of these products are not huge but do cover a very large range from 300 sales up to 7600, using a form of batch manufacturing for this product group would be sensible as the elongated nature of the batch processing model shown in Figure 1 covers a wide range of product …show more content…
A batch processing system has low operation costs which is sometimes exploited further by some businesses by manufacturing some of the same products by the same process (Alex Hill, 2009) increasing the overall utilisation of the process. Unfortunately, a batch processing system needs a high investment to work-in products to meet the medium to low volume markets as these products may have to be made-to-order at times leading to high cost as mentioned but also extended waiting times from the customers. Therefore, utilisation of a hybrid process would be good to minimise these downfalls, a Flexible Manufacturing System could be incorporated with the machinery in a cellular configuration meaning the company can maximise production whilst still maintaining low costs through all volume
“Why do you look at the speck of sawdust in your brother’s eye and pay no attention to the plank in your own eye? How can you say to your brother, ‘Let me take the speck out of your eye,’ when all the time there is a plank in your own eye? You hypocrite, first take the plank out of your own eye, and then you will see clearly to remove the speck from your brother’s eye.”
In the novel by Steven Lukes, “The Curious enlightenment of Professor Caritat”, Professor Nicholas Caritat travels to different societies in order to find an ideal political society. Every society that he encounters has a different set of values on how to govern. Throughout his quest, Caritat steps upon four different societies: Utilitarian, Communitaria, Proletaria, and Libertarian. Each society has a set of principles that either benefits or damages how the society functions. In Communitaria, everything is about being part of a certain group and religion. However, what happens when the ideal group that you correspond does not satisfy your individual needs? When you no longer feel “secure in your identity, your personality, your selfhood” because it has all been
Prior to the winding-up of an insolvent company, its creditors may individually enforce any measure available to them in order to obtain payment of the debt owed to them by such company. However, upon the opening of the winding-up proceedings these individual actions are replaced by a collective insolvency regime which attempts to ensure the rateable and equitable distribution of the assets of the insolvent company among its creditors. This distribution is known as pari passu distribution.
“Marginal analysis involves changing the value(s) of the choice variable(s) by a small amount to see if the objective function can be further increased (in the case of maximization problems) or further decreased (in the case of minimization problems)” (Thomas & Maurice, 2012, pp. 91). Marginal analysis is known as “the central organizing principle of economic theory” for its importance and applicability to many aspects of our daily lives as well as our careers (Thomas & Maurice, 2012, pp. 94). The key concepts of marginal analysis include total benefit, total cost, marginal benefit, marginal cost and net benefit. These concepts all come together to play a significant role in the use of marginal analysis to reach the optimal desired outcome.
During this project, I am going to mention the details of TOYOTA production process system which was developed more than 40 years ago by Taiichi Ohno, the president of Toyota Motor company at that time. The production system that Toyota company uses now and before is relevant to the concept of the process costing system which is currently used in all department of the company.
Ownership and control of production ; vertically integrated manufacturing operation to enable its constant introducing of new items and also ensure short lead time
The successful operations of the company revolve around the undertaking of strategic responses to market dynamics and performance of their brands. The company consistently applies changes to the various systems in its production line to address not only i...
Different jobs require various amounts of labor, expenses and raw materials subject to the superiority of the jobs to be carried out. The quality and size of items demanded can vary. Therefore, such a job might not need a standard manufacturing method. On no account are two jobs precisely similar. The finished product may not be the same. Clearly, the cost of every job will be different depending on the individuality of the work order obtained from clients.
The company is now facing the demand of more products without the capability of producing, and the threat of new entrants into the market is becoming significant. Mr. James M. Elliot, the CEO and Chairman of the Board at Bytes Products, Inc, noticed that the company was facing numerous problems. The existing three plants run on 3 shifts schedule of 24hours a day and 7 days a week using up all possible production. It has now become evident to Mr. Elliot that if the three existing plans were to be running at maximum capacity at all times, the demand of production would still not be met. If the company’s overall supply is unable to meet the demands of its customers it would cause a negative impact on the company by not being able to maintain its current market share.
QRM is difficult to define due to its “holistic” nature but requires the firm to move from the traditional batch manufacturer to a “flow” manufacturer. QRM is all about the reduction of lead time in all phases of manufacturing and various operations carried out in an organization. Quick Response Manufacturing (QRM) emphasizes on restructuring of manufacturing processes [Pyrek R. 2010] and continuous adjustment of actions to internal and external changes. The Quick Response Manufacturing concept is the way of modification of old system which exists. Moreover, QRM is applied to reduce time in all the operations of industry and delivery chains of a company. Its implementation ensures not only effective time management inside a company but also ensures co-operation between suppliers and recipients. Besides, it also ensures a flexible reaction to market signals and improves competitiveness of a company in the long-term. QRM helps in order to satisfy the requirement of fast and flexible reaction to quickly changing demands. Quick Response Manufacturing actually consists of several concepts such as Total Quality Management (TQM); Time to Market, Activity Based Costing, and Cellular Manufacturing but its main function is to increase the overall flexibility and productivity of the
Therefore, to determine the material handling system is very important for reduce cost and increased profits. The fact material handling systems represent a major part of the total manufacturing cost make necessity to choose adequately the material handling system when a manufacturing system is designed. One of the most successful applications of experts systems is selection of equipment for material handling (SEMH). SEMH lookups the knowledge bottom to be able to suggest the degree associated with mechanization, and also the type of product coping with equipment to become utilized, according to some traits. Fisher, Farber, and Kay (1998) have introduced MATHES: material handling equipment selection expert systems for the selection of a material handling equipment from 16 possible choices. MATHES as well as 172 principles takes course, product stream quantity, product sizing's in addition to distance concerning sectors because variables. Swaminathan, Matson, and Mellichamp (1992) have developed EXCITE: expert consultant for in-plant transportation equipment addressing 35 equipment
Operations – To work out the right layout and work flow process in the company. The manpower resource allocation is also critical in the situation on the right balance of resource to handle the production. If possible, adopt a hybrid model to handle the flexibility in the product nature, make both the production line being able to configure standard and customized so to reduce setup and changeover time and cope with the demands.
Base on the case of “Your Choice Furniture”, we marked this system's analysis to formulate solutions in this report; it assisted in evaluating the impact of recent change information technologies of “Your choice furniture” business system for evaluating how well the firm will be performing.
By adopting the value chain into a manufacturing company, it will gain efficiency, effectiveness, reduce the product cost and improve continuously. For example, Toyota has implemented Toyota Product System (TPS) integrated information system with the business process which allowed the company to be more efficiency, effectiveness and reduce inventory cost. (Toyota
The main challenges in the manufacturing companies are in the following stage of product development.