Planning of Production Pertaining to Medium
10 Pages2258 Words488 Views
Added on 2019-09-16
Planning of Production Pertaining to Medium
Added on 2019-09-16
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Running Header: PRODUCTION PLANNING – MERIDIAN WATER PUMPS – CASE ANALYSIS1Production Planning – Meridian Water Pumps – Case Analysis
Production Planning – Meridian Water Pumps – Case Analysis2Executive SummaryThe focus of this report concerns the issues / concerns relating to planning of production pertaining to medium sized pumps over the subsequent six months. As with most production planning, the company in this context also faces various limitations, concerns, specific planning and control related issues across various support and production function to efficiently and effectively undertake production. The key issues facing the company includes the fluctuating / cyclical demand for the productions which makes it difficult to plan its supply levels, inventory management, people requirements, etc. On the basis of the data available, the analysis of the production planning has been assessed by employing level production planning, chase production planning, and mixed form of production planning. As per the level plan proposed, the overall cost of production works out to US Dollar 628,810and in terms of production planning it leads to shortages during month 4 and 5 as well as there shall be one time hiring needs with no lay offs. As per the chase plan proposed, the overall cost of production works out to US Dollar 625,550 and in terms of production planning it leads to no shortages as well as there shall be hiring needs / layoffs in all of the months. As per the mixed plan proposed, the overall cost of production works out to US Dollar 626,475 and in terms of production planning it leads to no shortages as well as there shall be one time hiring needs and minimal layoffs in two months. Based on the assessments undertaken, it is proposed that the company adopt mixed form of production planning thereby meeting the demand projections with efficiency and effectiveness. This plan also has strategic significance and offers an ideal path towards longerterm growth potential.
Production Planning – Meridian Water Pumps – Case Analysis3Problem DefinitionThe focus of this analysis concerns the company called Meridian Water Pumps that focuses on manufacturing and selling smaller sized water pumps. In specific, the focus of this report concerns the issues / concerns relating to planning of production pertaining to medium sized pumps over the subsequent six months. As with most production planning, the company in this context also faces various limitations, concerns, specific planning and control related issues across various support and production function to efficiently and effectively undertake production.At the outset, the key issues facing the company includes the fluctuating / cyclical demand for the productions which makes it difficult to plan its supply levels, inventory management, people requirements, etc. In this context, to start with a reliable and detailed demand forecasting has been made available for the next six months. By basis upon this demand estimate, the most optimal production planning is assessed in terms of financial and strategic perspective by devising various different options and comparing them. AnalysisOn the basis of the data available, the analysis of the production planning is assessed by employing level production planning, chase production planning, and mixed form of production planning.Level Plan – Qualitative & Quantitative AnalysisDevelopment of the level form of production plan is critical to be undertaken. The overall aggregate demand as per the six month forecast undertaken is equivalent to 4,650 water pumpunits. As per the available inventory in current state as provided, the same is 50 and with the
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