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This assigned project aims to enable a student analyzes the given quantitative information, use mathematical models/formulas taught in a class to solve a set
This assigned project aims to enable a student analyzes the given quantitative information, use mathematical models/formulas taught in a class to solve a set of connected questions of some topics such as forecasting, capacity requirements planning, inventory, bill of materials in MRP, scheduling, etc.), and then draw general conclusions. By doing so, a student can apply course concepts to enhance quantitative reasoning abilities or skills for effective decision making. Jewelry manufacturing industries are mostly labor-intensive industries that need high operator involvement. Jewelry items such as brooches, rings, bracelets, earrings, etc. are meant for adornment and can be worn by persons. A jewelry company reveals the following production information as shown in Table 1 including the different types of each product name, processing times and due dates. The production department does not consider product setup times on machines for its production. Product name Bracelets Rings Brooches Product type A B C D E F G H I Earrings J K L Processing 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. time/hour 5 2 7 1 3 5 6 9 7 3 4 2 Minutes until due 15 18 55 12 12 21 33 54 44 20 33 Table 1. Processing times and due dates of product types 14 I The receiving department at the company orders materials for producing each finished product type. For example, one unit of product type A of bracelets requires one unit of material type A1, three units of material type A2 and two units of material A3. Further, each unit of material A2 needs one unit of material A21, one unit of material A3 needs three units of A31, and finally one unit of material A31 needs five units of material A311. Moreover, the purchase costs and quality (quality scale is out of 100) of materials required from suppliers to build the finished product are shown in Table 2. Product type Al A2 A3 A21 A31 A311 Measures cost quality cost quality cost qualit cost qualit qualit cost y cost quality y y $4. Supplier 1 60 $3. n/a $2. 0 n/a 40 $2. 40 9 20 n/a 9 n/a 0 Supplier 2 $4. 30 5 $3.5 $3. 55 $2. 40 40 5 n/a $1. n/a 25 5 Supplier 3 $4. 50 n/a $3. 7 n/a 40 $2. n/a $1. n/a 0 10 15 3 5 Table 2. Purchase costs and quality of materials
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