Assignment: Industrial Studies
Aim
To develop an understanding of overall concepts of various Industrial management functions.
Learning Outcomes
On completion of this module, the student should be able to:
1. Describe the main decision areas of marketing, marketing policy as applied to goods/products.
2. Analyze management accounts and appraise capital investments.
3. Demonstrate the concept of the manufacturing system and apply group technology philosophy in industry.
4. Describe the underlying principles of production planning and control, and evaluate inventory costs.
5. Demonstrate the principles of forecasting and predict customer demand.
6. Describe the principles of management and explain the effective utilization of human resources.
7. Demonstrate the principles of industrial maintenance and product reliability and apply Monte Carlo simulation technique to evaluate the performance of systems.
Tasks
Section A (Theory)
Q1. Present scenario of Oman market in the automobile industry, each student has to select one product with a complete analysis of the local market and analyze the brands available in the Oman market. Study any one product in detail and carry out the survey and provide the answers for the following task;
(a) Critically evaluate the product mentioning all the details of it. (Name of the product, specifications of the product, and manufacturers details etc.,) (Using your own sentences with 300 words approx.)
(b) Identify which brand of the product is the market leader in the Oman market and discuss what market strategies made the brand as the market leader. (Using your own sentences with 400 words approx.)
Q2. Discuss the Marketing Mix (4 Ps) being followed by the company in question 1 and how it is effective in increasing sales. Identify the present stage of the product and discuss the strategies for the company to implement in order to maintain the strength of the sales.
(Using your own sentences with 600 words approx.).
Q3. Break-even analysis helps a manager to understand more clearly the nature of relevant costs and their importance in managerial decision making, resulting in that the manager is able to take more soundly decisions and is more confident about their eventual outcome'. Explain its relevance to any manufacturing industry, supporting your answer with an example.
Section B (Solving Problems)
Q4. M/S Mobile Manufacture Company plans to produce a new version of mobile in the market. The forecast demand sales of mobiles are 1,500 units per week over 48 working weeks in a year. The company has two different proposals for the new project A and Project B. The financial information details of the projects are given in Table Q4:
|
Description
|
Project A
|
Project B
|
|
Capital Investment (RO)
|
220000
|
420000
|
|
Selling Price per unit (RO)
|
6.100
|
7.800
|
|
Raw material cost (RO)
|
2.900
|
3.300
|
|
Time to produce one Unit (min)
|
15
|
20
|
|
Operator cost per week (RO)
|
150
|
180
|
|
Fixed Costs per year (RO)
|
90000
|
91000
|
|
Other Variable costs per unit (RO)
|
0.600
|
0.400
|
|
Scrap value (RO)
|
16000
|
7000
|
|
Cost of capital
|
13%
|
11%
|
|
Corporation Tax
|
25%
|
25%
|
|
Anticipated life of the project
|
8
|
8
|
|
Standard Working hours per week
|
40
|
40
|
Table Q4
(i) Using the information from the table Q4 and Discount Cash Flow criteria, calculate Net Present Value (NPV), and Internal Rate of Return (IRR) each project.
(ii) Analyze the results of Net Present Value (NPV) and Internal Rate of Return from the above answer and recommend which project is best for the company.
Q5 M/S Al Mawela Company manufactures Sports Bike and supplies to the local market. A local sub-contracting company manufactures and supplies wheels to the M/S Al Mawela Company through a purchase contract. The sub-contracting company initially purchases aluminium billets as raw material and manufactures wheels by forming each billet into wheel rims. Both the rims (front and rear) are assembled with spokes, front and rear hubs. Front wheels comprise a front rim, 18 spokes and a front hub. Rear wheels comprise a rear rim, 24 spokes and a rear hub.
(i) Draw the Bill of Material (BOM) tree for the front and rear wheels.
(ii) Complete the Material Requirements Planning (MRP) and determine when to Purchase Orders placed for the spokes.
|
Week
|
14
|
15
|
16
|
17
|
18
|
19
|
|
Demand for the bikes
|
120
|
100
|
120
|
90
|
90
|
100
|
|
Demand of Front Rim
|
30
|
50
|
50
|
40
|
50
|
50
|
|
Demand of Rear Rim
|
60
|
70
|
70
|
80
|
60
|
70
|
Table Q5 (i)
|
|
Lead Time
|
Stock on Hand
|
Batch Size
|
Safety Stock
|
|
Bike
|
1
|
190
|
80
|
0
|
|
Front wheel
|
1
|
150
|
120
|
100
|
|
Rear wheel
|
1
|
100
|
150
|
110
|
|
Front Rim
|
2
|
160
|
150
|
90
|
|
Front Hub
|
1
|
100
|
160
|
40
|
|
Rear Rim
|
2
|
180
|
110
|
100
|
|
Rear Hub
|
1
|
150
|
100
|
50
|
|
Spokes
|
1
|
10000
|
5000
|
1200
|
Table Q5 (ii)
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.