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Question 1: A local company located in Nizwa assembles engines for customized trekking sport utility vehicle SUV. During the year end 2019 financial review, the company is concerned with its bloated inventory cost for the past five years. The profitability of the company has been declining year on year due to the effect of the increasing inventory costs. The newly hired manager who is a mechanical engineer is tasked to look into this matter and will provide a comprehensive proposal report to the company CEO to reduce the bloating inventory cost. The current consumption or usage of parts of the assembly department is shown in Table Q1. This data shows the typical annual usage or consumption of component parts for its engines. He found out that there is big mismanagement or neglect of the company inventories. Currently, the company is ordering parts from its suppliers locally and abroad once every three months. (i) Develop an ABC analysis for the company's inventories. Show completely the results in tabular form using excel. [6] (ii) Create a PARETO analysis for the ABC analysis using excel [4] (ii) Considering your 'class A' inventories, determine the economic order quantity EOQ using the following assumptions; zero safety stock for each class A inventories, stocking cost is 10% of the unit price, ordering cost for any class A inventories is 120 OMR per order. Determine the cost savings if EOQ is followed instead of the current ordering system of the company which is once every three months for 'class A inventories [6] Question 1: A local company located in Nizwa assembles engines for customized trekking sport utility vehicle SUV. During the year end 2019 financial review, the company is concerned with its bloated inventory cost for the past five years. The profitability of the company has been declining year on year due to the effect of the increasing inventory costs. The newly hired manager who is a mechanical engineer is tasked to look into this matter and will provide a comprehensive proposal report to the company CEO to reduce the bloating inventory cost. The current consumption or usage of parts of the assembly department is shown in Table Q1. This data shows the typical annual usage or consumption of component parts for its engines. He found out that there is big mismanagement or neglect of the company inventories. Currently, the company is ordering parts from its suppliers locally and abroad once every three months. (i) Develop an ABC analysis for the company's inventories. Show completely the results in tabular form using excel. [6] (ii) Create a PARETO analysis for the ABC analysis using excel [4] (ii) Considering your 'class A' inventories, determine the economic order quantity EOQ using the following assumptions; zero safety stock for each class A inventories, stocking cost is 10% of the unit price, ordering cost for any class A inventories is 120 OMR per order. Determine the cost savings if EOQ is followed instead of the current ordering system of the company which is once every three months for 'class A inventories [6] Question 3: (a) KANJAR Company is a manufacturer of light aircraft components in Oman. For the past two years of operation, the company is experiencing production backlog. A number of its customers are complaining for long delays of deliveries. This backlog is hurting the competitive advantage and the profitability of the company. In order to address this issue, the operation manager decides to implement the following possible alternatives; production overtime, subcontracting, and possible hiring of additional workers if necessary. The company always prepares a nine-month aggregate plan to decide the optimum way to determine requirements for planning purposes, although this is modified when the demand requirements change. The estimated demand for a particular unit for the period January through September is given in Table Q3(a). The current workforce is based on the production level in the previous December. Operating data are given in Table Q3(b). Requirement: Develop an aggregate plan AP based on level capacity strategy specified for the planning period. Subcontract to meet a 100% service level every month and no overtime, no hiring, and no termination. Show graphically the demand forecast, actual production output, and ending inventory in single graph. Determine the total production cost for the specified period. [7] () Table Q3(c) shows the demand orders of aircraft component of a local customer from January to September. Develop a master planning schedule MPS, assuming production lot size of 800 units, and beginning inventory intended for the particular customer is 150 units. In your MPS indicate the projected available balance PAB and the MPS per month. [3] Jan 1,985 TableQ3(a): Veatch Company Estimated demand for a product Feb Mar April May June July 2,050 2,300 2,175 2500 2,750 2,300 August 1,950 Sep 1,700 Table Q3(b): Veatch Company Operating data Items Amount Initial inventory (units) 400 Stockout costs (OMR/unit 125 Carrying cost, 30 (OMR/unit/month) Hiring cost per unit 70 (OMR/unit) Termination cost per unit 85 (OMR unit) Subcontract cost 85 (OMR unit) Production units the 1,500 previous December In-house production cost, 75 (OMR/unit Labor hours/ unit 3.2 Workweek (hours) 40 Weeks/month 4 Jan Feb Table Q3(c): Veatch Company Operating data Mar April May June 350 550 500 650 July August 750 Sep 700 300 450 600 Question 1: A local company located in Nizwa assembles engines for customized trekking sport utility vehicle SUV. During the year end 2019 financial review, the company is concerned with its bloated inventory cost for the past five years. The profitability of the company has been declining year on year due to the effect of the increasing inventory costs. The newly hired manager who is a mechanical engineer is tasked to look into this matter and will provide a comprehensive proposal report to the company CEO to reduce the bloating inventory cost. The current consumption or usage of parts of the assembly department is shown in Table Q1. This data shows the typical annual usage or consumption of component parts for its engines. He found out that there is big mismanagement or neglect of the company inventories. Currently, the company is ordering parts from its suppliers locally and abroad once every three months. (i) Develop an ABC analysis for the company's inventories. Show completely the results in tabular form using excel. [6] (ii) Create a PARETO analysis for the ABC analysis using excel [4] (ii) Considering your 'class A' inventories, determine the economic order quantity EOQ using the following assumptions; zero safety stock for each class A inventories, stocking cost is 10% of the unit price, ordering cost for any class A inventories is 120 OMR per order. Determine the cost savings if EOQ is followed instead of the current ordering system of the company which is once every three months for 'class A inventories [6] Question 1: A local company located in Nizwa assembles engines for customized trekking sport utility vehicle SUV. During the year end 2019 financial review, the company is concerned with its bloated inventory cost for the past five years. The profitability of the company has been declining year on year due to the effect of the increasing inventory costs. The newly hired manager who is a mechanical engineer is tasked to look into this matter and will provide a comprehensive proposal report to the company CEO to reduce the bloating inventory cost. The current consumption or usage of parts of the assembly department is shown in Table Q1. This data shows the typical annual usage or consumption of component parts for its engines. He found out that there is big mismanagement or neglect of the company inventories. Currently, the company is ordering parts from its suppliers locally and abroad once every three months. (i) Develop an ABC analysis for the company's inventories. Show completely the results in tabular form using excel. [6] (ii) Create a PARETO analysis for the ABC analysis using excel [4] (ii) Considering your 'class A' inventories, determine the economic order quantity EOQ using the following assumptions; zero safety stock for each class A inventories, stocking cost is 10% of the unit price, ordering cost for any class A inventories is 120 OMR per order. Determine the cost savings if EOQ is followed instead of the current ordering system of the company which is once every three months for 'class A inventories [6] Question 3: (a) KANJAR Company is a manufacturer of light aircraft components in Oman. For the past two years of operation, the company is experiencing production backlog. A number of its customers are complaining for long delays of deliveries. This backlog is hurting the competitive advantage and the profitability of the company. In order to address this issue, the operation manager decides to implement the following possible alternatives; production overtime, subcontracting, and possible hiring of additional workers if necessary. The company always prepares a nine-month aggregate plan to decide the optimum way to determine requirements for planning purposes, although this is modified when the demand requirements change. The estimated demand for a particular unit for the period January through September is given in Table Q3(a). The current workforce is based on the production level in the previous December. Operating data are given in Table Q3(b). Requirement: Develop an aggregate plan AP based on level capacity strategy specified for the planning period. Subcontract to meet a 100% service level every month and no overtime, no hiring, and no termination. Show graphically the demand forecast, actual production output, and ending inventory in single graph. Determine the total production cost for the specified period. [7] () Table Q3(c) shows the demand orders of aircraft component of a local customer from January to September. Develop a master planning schedule MPS, assuming production lot size of 800 units, and beginning inventory intended for the particular customer is 150 units. In your MPS indicate the projected available balance PAB and the MPS per month. [3] Jan 1,985 TableQ3(a): Veatch Company Estimated demand for a product Feb Mar April May June July 2,050 2,300 2,175 2500 2,750 2,300 August 1,950 Sep 1,700 Table Q3(b): Veatch Company Operating data Items Amount Initial inventory (units) 400 Stockout costs (OMR/unit 125 Carrying cost, 30 (OMR/unit/month) Hiring cost per unit 70 (OMR/unit) Termination cost per unit 85 (OMR unit) Subcontract cost 85 (OMR unit) Production units the 1,500 previous December In-house production cost, 75 (OMR/unit Labor hours/ unit 3.2 Workweek (hours) 40 Weeks/month 4 Jan Feb Table Q3(c): Veatch Company Operating data Mar April May June 350 550 500 650 July August 750 Sep 700 300 450 600