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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Advanced Supply Chain Management
1. If you are asked to build an effective aggregate planning strategy, what trade-offs among variables like capacity, inventory and backlog cost will you make and how will you arrive at the best strategy to implement. Explain the various strategies and how you will balance among these costs with example.
INTRODUCTION:
Aggregate planning is the process of developing, analyzing, and maintaining a preliminary, approximate schedule of the overall operations of an organization. The aggregate plan generally contains targeted sales forecasts, production levels, inventory levels, and customer backlogs. This schedule is intended to satisfy the demand forecast at a minimum cost. Properly done, aggregate planning should minimize the effects of shortsighted, day-to-day scheduling, in which small amounts of material may be ordered one week, with an accompanying layoff of workers, followed by ordering larger amounts and rehiring workers the next week. This longer-term perspective on resource use can help minimize short-term requirements changes
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2. A multinational company produces multiple products and serves multiple customer segments. Do you think they can achieve a strategic fit to have a well-defined strategic position? Explain with suitable examples.
INTRODUCTION:
Strategic fit expresses the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment. The matching takes place through strategy and it is therefore vital that the company has the actual resources and capabilities to execute and support the strategy. Strategic fit can be used actively to evaluate the current strategic situation of a company as well as opportunities such as M&A and divestitures of organizational divisions. Strategic fit is related to the Resource-based view of the firm which suggests that the key to profitability is not only through positioning and industry selection but rather
3 . Super Mart retails in home appliances. All the appliances are stocked its warehouse from where it is dispatched to its customers against an order. One of its fast selling items is portable USB electric juicer mixer, the demand is around 100 units per month. The cost of each juicer mixer is Rs.2000. The retail stores spend Rs. 20 for every order placed. Inventory carrying cost is 10% per unit per annum. The lead time to procure the item is 5 days. Super Mart retail store is open for 300 days in a year.
a. What should be the optimum order quantity for the Juicer Mixer and re-order point?
(5 Marks)
b. Explain the components of inventory carrying cost that Super Mart warehouse will be incurring.
a.
INTRODUCTION:
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. This production-scheduling model was developed in 1913 by Ford W. Harris and has been refined over time. The formula assumes that demand, ordering, and holding costs all remain constant.The EOQ is a company’s optimal order quantity that minimizes its total costs related to ordering, receiving, and holding inventory.he EOQ formula is best applied in situations where demand, ordering, and holding costs
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