Enlist direct and indirect demands given in the scenario. Identify the current inventory counting practice and its importance to Wheeled Coach’s business. Implement ABC inventory control system. Develop ABC matrix to support your answer. If you were the inventory control manager, what steps would you recommend for inventory record accuracy? Your answer must analyze the drawback in prevailing system.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Question-1- Please read the scenario below and answer the questions. The maximum word-count limit of each answer is 200 words. Mention separate heading for each part. (Marks-10)
Controlling inventory is one of Wheeled Coach’s toughest problems. Operating according to a strategy of mass customization and responsiveness, management knows that success is dependent on tight inventory control. Anything else results in an inability to deliver promptly, chaos on the assembly line, and a huge inventory investment. Wheeled Coach finds that almost 50% of the cost of every ambulance it manufactures is purchased materials. A large proportion of that 50% is in chassis (purchased from Ford), aluminum (from Reynolds Metal), and plywood used for flooring and cabinetry construction (from local suppliers). Wheeled Coach tracks these A inventory items quite carefully, maintaining tight security/control and ordering carefully so as to maximize quantity discounts while minimizing on-hand stock. Because of long lead times and
In a crowded ambulance industry in which it is the only giant, its 45 competitors don’t have the purchasing power to draw the same discounts as Wheeled Coach. But this competitive cost advantage cannot be taken lightly, according to President Bob Collins. “Cycle counting in our stockrooms is critical. No part can leave the locked stockrooms without appearing on a bill of materials.”
Accurate bills of material (BOM) are a requirement if products are going to be built on time. Additionally, because of the custom nature of each vehicle, most orders are won only after a bidding process. Accurate BOMs are critical to cost estimation and the resulting bid. For these reasons, Collins was emphatic that Wheeled Coach maintain outstanding inventory control.
- Enlist direct and indirect demands given in the scenario.
- Identify the current inventory counting practice and its importance to Wheeled Coach’s business.
- Implement ABC inventory
control system. Develop ABC matrix to support your answer. - If you were the inventory control manager, what steps would you recommend for inventory record accuracy? Your answer must analyze the drawback in prevailing system.
Question-2- Hershey Chocolate Corporation was the first company that produced milk chocolate in America. With the passage to time, it focused only on chocolate production, and manufactured many innovative products. After the Second World War, it managed to export its products to 90 countries. In2006, its sales reached 5 billion dollars, and employed over 14,300 people.
The objective of the project is to deploy an ERP system covering sales and procurement process. The following is the required schedule of the event. (Marks-10)
|
Activity |
Duration- Weeks |
Immediate Predecessors |
|
A–Select consultant for selecting system |
2 |
_____________ |
|
B–Meet with consultant to discuss ERP |
4 |
A |
|
C–Meet with Board of Directors to explain proposal |
1 |
A |
|
D–Develop request for proposals to give to vendors |
3 |
B,C |
|
E–Obtain vendor proposals |
4 |
D |
|
F–Develop organization business cases including training |
8 |
E |
|
G–Present business cases to Board of Directors |
1 |
F |
|
H–Redo estimates in light of board requests for changes |
3 |
G |
|
I–Initiate installation project |
1 |
H |
- Mention which approach should be used to execute this project and why?
- Out of the three phases, which phase/ phases can you identify from given scenario?
- Write the scope of this project in two lines.
- Use CPM to identify the critical path and the length of this project. Also provide table to mention slack of each activity.
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