Assignment:
For the final Portfolio Project, you will engage in two iterations of the Littlefield Simulation, which involves managing a simulated factory environment. The simulation will take place on a website that you will enter with logon credentials to be provided to you .
Your factory will have inputs, transformation processes, and outputs. You will have the ability to control certain parameters in the factory. Your objective will be to maximize the cash position of your factory, which is accomplished by minimizing the costs associated with inputs and the equipment used in the transformation processes, and maximizing output (which generates sales revenue).
In the simulation environment, one simulation day elapses for every hour in the real world. Each of the two simulation iterations will take one week in the real world, which translates to a much greater period of time in simulation days. The first iteration of the simulation will occur during Module 4, and the second will occur during Module 6. The simulation starts on Day 1 of each of these modules for all students, and simulation days elapse continuously for a week.
In the Option #1 Simulation Exercise, you will start with $1M in cash; you will control only the number of machines in each station and the scheduling policy in Simulation Iteration 1. Then in Simulation Iteration 2, you will start with much less cash; you will have control over lot size, pricing contract type for future orders, inventory reorder point, inventory reorder quantity, number of machines in each station, and scheduling policy. This provides the opportunity to learn in a simplified operations environment before managing a more complicated operation. However, you will not be able to directly compare your performance in Simulation Iteration 1 to that in Simulation Iteration 2, because the controllable parameters and starting cash positions will be significantly different.
Submit a paper that includes the following titled sections:
1. Introduction: Explain the purpose of your paper and how it is arranged.
2. Littlefield Simulation Operations Environment: Describe the factory used in the Littlefield Simulation in terms of inputs, transformation processes, outputs, controllable parameters, and the overall role of the Operations Manger of the factory (yourself), as specified in the instructions at: https://responsive.net/littlefield/littlefieldHome.html.
3. Simulation Iteration 1 Data: Summarize this iteration of the simulation in terms of how frequently you accessed it and your procedure for collecting and recording data. Present the table you designed and populated which: (a) captures quantitative, time-phased data regarding the inputs, transformation processes, outputs, and cash position of your factory, and (b) documents actions that you took to control parameters in the operation, and when you took them in terms of simulation days. Your only adjustable parameters will be the number of machines at each station and the scheduling policy.
4. Simulation Iteration 1 Reflection: Describe what you learned about Operations Management from this iteration of the simulation; why you took certain actions in terms of adjusting parameters; and the apparent results of your actions. Explain the lessons you learned from Simulation Iteration 1 that you decided to apply to Simulation Iteration 2.
5. Simulation Iteration 2 Data: Summarize this iteration of the simulation in terms of how frequently you accessed it and your procedure for collecting and recording data. Present the table you designed and populated which: (a) captures quantitative, time-phased data regarding the inputs, transformation processes, outputs, and cash position of your factory, and (b) documents actions that you took to control factors in the operation, and when you took them in terms of simulation days. You will be able to control all parameters listed in the instructions at: https://responsive.net/littlefield/littlefieldHome.html.
6. Simulation Iteration 2 Reflection: Discuss the differences between this simulation iteration and the first one in terms of the actions you took, the rationale for those actions, and the results achieved.
7. Three Applicable Operations Management Topics: Identify and discuss three Operations Management topics in the Heizer & Render (2014) textbook that are applicable to the overall simulation exercise in which you engaged for this Portfolio Project.
8. Applicability of Simulation to a Selected Organization: Select a real organization and describe three elements of this simulation exercise as they apply to Operations Management in that organization.
9. Conclusion: Present a conclusion for your overall findings.
10. References: Include the sources you used to complete your analysis.
Your paper should contain at least 8 pages of content, not including the title page and list of references. APA formatting is required. The paper must be formatted . Be clear, concise, and focused. The Littlefield website and Heizer and Render (2014) textbook must be used as sources, and you must include at least three additional scholarly references to support your paper.