Why did you choose to buy an extra machine at step 3? Was this necessary when the implied utilization at the station is already efficient? I am trying to understand why you would spend the money on station 3 before buying an extra machine at station 1.
I have attached the link for detailed knowledge. www.tradegecko.com/learning-center/reorder-point-formula-calculation , www.investopedia.com/terms/e/economicorderquantity.asp
It seems to me that it depends on the Station 2 queue. If the utilization is getting full on Station 2, then I think it would be best to prioritize step 1 or 2. Fifo would be good if your Station 2 utilization is normal but station 1 has high utilization. I think
By default, I think the setup would work on FIFO but you should switch to PRI 4 and that is because if machine 2 received packages from both the machines i.e 1 & 3 at the same time then it would give priority to machine 3 package. Packages from machine 3 take less testing time and would be process faster and will make us gain revenue. You should switch to PRI 2 when queue numbers are increasing at machine 1 and is indicating that in coming days you would loose the demands as the machine 1 is working at it's full potential (100% or 1)and not able to process faster. For most of the game, PRI 4 would be used because machine 3 has slowest processing speed and that is why It would be good idea NOT to use FIFO because every time machine 1 will process its packages faster due to its high speed and machine 2 would test the mac 1 packages that takes more time.
When you click any machine setup (green, blue, red) there is an update button there you can change the number of machines. You can add and reduce (sell) the number of machines.
I know it's too late, but you should purchase machinery for each of the station to avoid bottlenecks😅 Please feel free to leave suggestions for me, as I am currently doing the simulation as part of my MBA course.
@@__Hog__ make early purchase for machine 1 and 2. By the end of the simulation I had the need for some 3 machine on station 1, 3 on station 2 and 2 on station 3. Buy when the utilization is approaching 1 for any of the stations. Next, the faster you switch to contract 3 the better. Don't stick to Contract 1, try to fully switch to Contract 3 by Day 70(the earlier the better), and for that you'll need to meet the above requirement of machine at the stations(you may have a different demand pattern, so the number of machines may vary). Penultimately, buy the raw materials(Inventory) in Bulks - Don't buy them in multiple batches, especially early on during the simulation, you have the provision to buy extra inventory as you will have to manage the operations till Day 218(before the last 50 days when the simulation runs automatically, like the first 50 days). As an example - Around Day 144, the reorder point was increased to 4800 kits (80 batches of 60 kits) [60 kits = 1 job] and The new Reorder value was set to 10800 kits (180 batches of 60 kits) after calculating average requirement as per the demand data. If you are familiar with the simulation, you'll know what terms I am talking about. Lastly, towards the end of simulation, you'll need to predict what will be the Inventory requirement for last 50 days, for this I'll ask you to maintain an Excell and keep track of your Demand for 50 days period in check, i.e., using the simple average, weighted average method or exponential smoothing method, calculate the forecasts at Day 218, so that you don't make any accident sales towards the end of the simulation. There is a lot of experimentation to be done, but these are the 3-4 things you'll need to do. It ensured us 2nd position in our class. Hope this helps you.!
When you click any machine setup (green, blue, red) there is an update button there you can change the number of machines. You can add and reduce (sell) the number of machines.
u explained it so well , better then our professor in the US
How do I find the capacity of each machine in each station?
Thanks for explaining! This helps a lot to understand what's going on in the simulation.
Why did you choose to buy an extra machine at step 3? Was this necessary when the implied utilization at the station is already efficient? I am trying to understand why you would spend the money on station 3 before buying an extra machine at station 1.
Can anyone do mine? I have got an assignment and I am very confused.
Super cool! Do you have a tip for game 1?
How did you find the reorder point and order quantity...
I have attached the link for detailed knowledge. www.tradegecko.com/learning-center/reorder-point-formula-calculation , www.investopedia.com/terms/e/economicorderquantity.asp
@@wonderfulcreators4908you're a savior!
If you keep WIP low, will this help your profit grow?
thanks for the video, pls advise , where we can see the presentation report
th-cam.com/video/F00ar8w8F0A/w-d-xo.html
Bless you
When do you change the policy to FIFI and Pri either step 2/4? What's the decision element? Thank you.
It seems to me that it depends on the Station 2 queue. If the utilization is getting full on Station 2, then I think it would be best to prioritize step 1 or 2. Fifo would be good if your Station 2 utilization is normal but station 1 has high utilization. I think
By default, I think the setup would work on FIFO but you should switch to PRI 4 and that is because if machine 2 received packages from both the machines i.e 1 & 3 at the same time then it would give priority to machine 3 package. Packages from machine 3 take less testing time and would be process faster and will make us gain revenue. You should switch to PRI 2 when queue numbers are increasing at machine 1 and is indicating that in coming days you would loose the demands as the machine 1 is working at it's full potential (100% or 1)and not able to process faster. For most of the game, PRI 4 would be used because machine 3 has slowest processing speed and that is why It would be good idea NOT to use FIFO because every time machine 1 will process its packages faster due to its high speed and machine 2 would test the mac 1 packages that takes more time.
how do I buy the machines for the stations
When you click any machine setup (green, blue, red) there is an update button there you can change the number of machines. You can add and reduce (sell) the number of machines.
hi actually i ve got 1.00 utilization at all stations which increased the size of Que , what i should do?
I know it's too late, but you should purchase machinery for each of the station to avoid bottlenecks😅
Please feel free to leave suggestions for me, as I am currently doing the simulation as part of my MBA course.
@@rishabhbhatnagar3214 hey this might be a little late but I’m struggling in this class a bit. What steps should I start with and end with?
@@__Hog__ make early purchase for machine 1 and 2. By the end of the simulation I had the need for some 3 machine on station 1, 3 on station 2 and 2 on station 3. Buy when the utilization is approaching 1 for any of the stations.
Next, the faster you switch to contract 3 the better. Don't stick to Contract 1, try to fully switch to Contract 3 by Day 70(the earlier the better), and for that you'll need to meet the above requirement of machine at the stations(you may have a different demand pattern, so the number of machines may vary).
Penultimately, buy the raw materials(Inventory) in Bulks - Don't buy them in multiple batches, especially early on during the simulation, you have the provision to buy extra inventory as you will have to manage the operations till Day 218(before the last 50 days when the simulation runs automatically, like the first 50 days). As an example - Around Day 144, the reorder point was increased to 4800 kits (80 batches of 60 kits) [60 kits = 1 job] and The new Reorder value was set to 10800 kits (180 batches of 60 kits) after calculating average requirement as per the demand data. If you are familiar with the simulation, you'll know what terms I am talking about.
Lastly, towards the end of simulation, you'll need to predict what will be the Inventory requirement for last 50 days, for this I'll ask you to maintain an Excell and keep track of your Demand for 50 days period in check, i.e., using the simple average, weighted average method or exponential smoothing method, calculate the forecasts at Day 218, so that you don't make any accident sales towards the end of the simulation.
There is a lot of experimentation to be done, but these are the 3-4 things you'll need to do. It ensured us 2nd position in our class. Hope this helps you.!
How do you sell machines?
When you click any machine setup (green, blue, red) there is an update button there you can change the number of machines. You can add and reduce (sell) the number of machines.
@@wonderfulcreators4908are the reflection instantaneous? do we receive the cash instantly or it takes few days to reflect??
Hi how can i contact you? i have a pressing question for my simulation
wonderfulcreators123@gmail.com
Sorry, where is your reorder point presentation?
th-cam.com/video/F00ar8w8F0A/w-d-xo.html
Why not just buy all the machines in the first day since you know you will need them later
@wonderful creators, could you please answer this question :)
you will not maximize revenue as you need to purchase inventories as well.@@Stevendegr00t