Turn in Your Team’s Initial Analysis and Plan After your instructor enables access to the first 50 days of history, you can log into your lab using the team name and password that you previously registered. Your instructor will give you the address for the login web page. Your instructor will also provide a handout describing the lab you are managing, including how to access performance history and make changes. Read that handout carefully before logging into your lab. After you log in, view all the data plots by clicking on each laboratory icon. You will not be able to change anything yet. Using that data, your team should turn in a plan describing how you will manage the lab and how you will manage your team. Your team’s analysis should answer the following questions, organized into the three sections, “Team Dynamics,” “Analysis”, and “Plan.” It may not exceed three double-spaced pages in length. Be sure to show your calculations and keep a copy of the plan. You will need it later.
1. What are the names and contact information for all the members of the team?
2. What tasks and responsibilities are assigned to each team member? For example, each team member may be assigned a day to manage the entire lab, or each team member may be responsible for monitoring a specific part of the lab over the entire seven days.
3. If someone on the team believes a change needs to be made, such as buying a machine, what is the team protocol? For example, does a person need to get permission from everyone on the team before making a change? Does a team member have to notify everyone after making a change?
1. Estimate the current capacity at Stations 1, 2, and 3. Show your work.
2. Estimate what the expected daily demand will be after it levels off on day 150. Show your work. 3. Estimate the minimum number of machines needed at each station to meet the peak demand. Show your work. 4. Calculate the inventory holding cost in dollars per kit per year. 5. Estimate the best kit order quantity at peak demand. Show your work. 6. Estimate the best kit reorder point at peak demand. At peak demand, you can assume that the standard deviation of daily demand is 3.5 kits. Show your work. 3 Plan: How will you determine the following during the game? 1. When, if ever, to buy new machines. 2. When, if ever, to sell machines. 3. When to change the order quantity and what its new value should be. 4. When to change the reorder point and what its new value should be. 5. When, if ever, to change the customer contract and which one it should be. 6. How to manage the tradeoff between getting caught with too much inventory versus stocking out of inventory at the very end of the game (think about the single-period inventory model).