Evolution and Revolution in the Hi-Fi Sector free essay sample

The amount re-ordered is enough to bring the stock level back up to 120 items after taking into consideration any outstanding orders from customers. The costs are as follows: Cost of placing an order? 60 Daily stock holding cost? 0. 75 Stock-out cost? 1. 50 per printer per day. Basic cost of printer? 75 The suppliers of Computer Accessories Ltd. We will write a custom essay sample on Evolution and Revolution in the Hi-Fi Sector or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page operate the following discount system: Discount on Quantity OrderdBasic Price Less than 400% Between 40 and 607. 5% Between 60 and 8012. 5% Between 80 and 10015% Between 100 and12517. 5% Greater than 12520% The starting stock level is 100 printers. You are required to: (1)Analyse the current system as best you can using appropriate analytical stock control models. Where necessary and possible, make (and clearly state) assumptions in order to be able to apply existing models. (2)Build a simulation model to analyse the current stock control system for Mostpopcart cartridges, and recommend a new system which will provide a 95% service level. Your analysis should use simulation models to investigate, in particular, the re-order level, the re-order quantity, and the service provided by the suppliers of Computer Accessories Ltd. ith regard to the delivery times of Mostpopcart cartridges. (3)Compare and contrast the models and results from (1) and (2). Your analysis and recommendations must be presented in the form of a report of approximately 1,200 words for the attention of the Stores Manager. Note: The following will be taken into account when marking: Accuracy in formulae in Excel Comparison of results from tasks (1) and (2) Basic simulation model (representing the current policy) Use of advanced spreadsheet facilities General layout of spreadsheet/s Analysis of alternative scenarios (investigation of alternative policies in a systematic manner) Reasoned argument for recommendation Report Presentation. Submission Details One Excel file (containing all the models) and the report in Word must be submitted through BREO before 10. 00a. m. on Monday 14th May 2012. Note: You will see from the schedule that the three weeks after the Easter break have been set aside for working on the assignment. We will be happy to provide appropriate support to students who have made a reasonable attempt. Learning Outcomes Assessed 1Apply simple deterministic and stochastic models relating to, for example, stock control and queuing theory. Analyse the requirements of a problem, the data available, and the data requirements for particular techniques, and comment on the suitability of those techniques in the analysis and solution of the problem. 2Compare and contrast simulation modelling to other analytical modelling approachesFormulate a problem as a simulation and contrast this with one other relevant analytical modelling approach. Formulate and build an appropriate simulation model. Build a simulation model, make appropriate assumptions, collect relevant data, and validate and verify the model. 4Design experiments and use the simulation model to investigate alternative scenarios and propose policy alternatives. Design appropriate experiments, conduct statistical analysis of results, and propose policy alternatives. The following is a guide as to how your work will be marked: Analytic al Models (20%) |F |E |D (Range) |C (Range) |B (Range) |A (Range) | |Simulation Models (50%) |F |E |D (Range) |C (Range) |B (Range) |A (Range) | |Compare Contrast Results (30 %) |F |E |D (Range) |C (Range) |B (Range) |A (Range) |