StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Space Age Furniture Company - Assignment Example

Comments (0) Cite this document
Summary
This paper will analyse the MRP used in Space Age Furniture Company and recommend a better system that can minimise inventory-holding costs and ensure on time delivery. An MRP can be developed using the master schedule available for the company that shows production for the next six weeks…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92% of users find it useful
Space Age Furniture Company
Read TextPreview

Extract of sample "Space Age Furniture Company"

Download file to see previous pages According to the paper the company incurs a cost of $0.75 per unit per week to hold stock for any subassemblies in stock from one week to another. Hence Space Age Company will incur a total cost of $975 for the six weeks in relation to holding cost. It is clear that due to the high number of subassemblies being produced, there is a demand for part 3079 to be produced in high numbers since it is used to make the subassemblies. However, this can lead to the company incurring overtime costs in order to meet the demand for sub assembles produced in lot sizes of 1000 units. This paper recommends that the lot size of producing the subassemblies should be reduced in order to avoid too much demand for part 3079. This is because it can lead to overtime costs, which in turn can lead to the loss of competent staff. This can be done by reducing the lot size to say 800 units and analysing its effects through Material Requirements Planning. If reducing that number still does not yield better results, the company can consider reducing the number further up to a point where they can sustain the demand for part 3079 that is used to make the subassemblies for the final products. Alternatively, since the machine that makes part 3079 can make as much units as possible, the company can consider employing more staff who can make the part in order to meet the demand for the subassemblies required. This will eliminate overtime costs, stock out costs and motivate the staff who will work the regular 40 hours per week. According to Hanna & Newman, for a company to come up with the best course of action, a cost-benefit analysis must be done in order to choose the one that minimises costs and maximises benefits. In this case, the two recommendations will be analysed. A trade-off is a situation where one gains something at the expense of losing something. That is when one item increases, the other ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Space Age Furniture Company Assignment Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.org/management/1642292-space-age-furniture-company
(Space Age Furniture Company Assignment Example | Topics and Well Written Essays - 2500 Words)
https://studentshare.org/management/1642292-space-age-furniture-company.
“Space Age Furniture Company Assignment Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/management/1642292-space-age-furniture-company.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Space Age Furniture Company

IKEA and Fantastic Furniture

...IKEA and Fantastic furniture Executive summary While IKEA was started in 1943, Fantastic furniture was established in 1991. Bothare furniture retail companies, which have experienced a great deal of success over the years the companies have been running. The companies provide home and office furniture, wooden, plastic and metallic. Though furniture business is expected to be the most successful business ever, owing to the ever-increasing demand for furniture by a growing population and a changed lifestyle, it has not been so. The key success factors desirable for such success is the...
6 Pages(1500 words)Research Paper

Furniture Manufacturing Company Management

...?Law essay Introduction Tom and Harry are executive directors and shareholders of Imperial Ltd, which is a furniture manufacturing company. The board of directors recently decided to award its ICT contract to Computers4us. Tom did not disclose that Computer4us is owned by his father. According to Company law, a director must always act in the best interests of the company (Griffiths 2005). Accordingly, directors must act within the company’s constitution and exercise their power only for the authorized purposes. Company Act 2006 Sec 177 requires all directors of a company to avoid conflicts of interest by declaring their...
3 Pages(750 words)Essay

Cover memo: Furniture company Adoring Homes

...? WRITING INSTRUCTION PAPER COVER MEMO Respected Sir, As you know that our company AdoringHomes is the pioneer in manufacturing furniture products that add to the beauty of houses, offices etc. Hence I have worked on to produce one of the finest additions to our product line that is a room divider.Our furniture is something which enhances a beauty of an individual’s house or office place. It is supports several human activities. Furniture is usually kept in a house or work place to make it suitable for an individual to feel comfortable on with whatever object it is. The purpose of our room divider would be to ensure privacy and overcome the need of proper partitions or...
3 Pages(750 words)Essay

Space Age Furniture

...?Space Age Furniture Company Contents Introduction 3 Questions & Answers 4 References 14 Introduction In the given case study, we can find that the Space Age Furniture Company is into the business of manufacturing cabinets and tables which are used for holding portable televisions and microwave ovens. The tables are made according to various sizes and various characteristics. Although all the products follow the same operations for production and assembly functions, still two products, namely the Gemini TV stand and the Saturn microwave stand have a component (no. 3079) which needs machining on a particular lathe equipment applied for the making of that special part only. Ed Szewczak, an able and experienced machinist is in charge... ...
11 Pages(2750 words)Term Paper

Furniture Scenerio

...company might bring conflict of interest for Guillermo as he also carries his own brand and his own type of products which are comparable and which may be in direct competition with the products that he distributes for other companies. As was stated, he still has the desire to retain hid high-end customer particularly for his flame retardant and stain resistant furniture, in which only he has the patent. Although, it was stated that the market for this is smaller compared to the finished coating, Guillermo has all the reasons to push more for his product than that of the foreign business partner. The conflict of interest might pose a serious ethical problem in the future which might...
3 Pages(750 words)Essay

Furniture Marketing

...1. Proposed Idea A furniture company has designed a new product that will be launched in the coming month. We propose to launch this product by producing a Marketing Strategy plan to give us scope for a successful launch (Brooksbank, 1999). The main target in the beginning will be students at university and college. 1.1 Mission statement Provide adaptable computer desks to suit the varying needs of students within UK, which can be supplied to schools colleges and universities. 2.1 Background The furniture company Total Concept Furniture Company has 8 years of history and experience of producing furniture...
20 Pages(5000 words)Case Study

Advanced SQL Queries for the Pine Valley Furniture Company Database

...Advanced SQL Queries for the Pine Valley Furniture Company Database Question 1: What are the IDs for all orders that include furniture produced by the product line 1? SELECT ORDER_t.Order_ID, PRODUCT_LINE_t.Product_Line_ID FROM ORDER_t, PRODUCT_LINE_t WHERE (((PRODUCT_LINE_t.Product_Line_ID)=1)); In order to make this query, we need to know which entities or tables we will query. We need the IDs of all the orders that were made on all the furniture processed by product line one. The most important table in this case is the ORDER table, which we know as ORDER_t. The field from this table that identifies the orders for us is the Order_ID. Given, we need the other table,...
2 Pages(500 words)Term Paper

Operations Management in Stickley Furniture Company

...Operation management: Final Case Study Paper "Stickley Furniture Introduction Stickley Furniture also referred to as L & J.G was founded in 1900 by George Stickley and Leopold. The Company has adopted different modes of production processing such as batch and job shop in order to cope with market demands; the Company has experienced ups and downs in its sales and manufacturing performances. 1. Which type of production processing—job shop, batch, repetitive, or continuous—is the primary mode of operation at Stickley Furniture? Why? What other type of processing is used to a lesser extent? Explain. There are distinct production processes which can be...
4 Pages(1000 words)Essay

Space Age Furniture

...Data of Material Requirement Planning Material requirement planning is a method used to obtain the demand for the finished goods through forecasting. In such cases, such demands are referred to as independent demands. Once the demand for the finished goods is obtained, the demand for the components or the subassemblies will depend on those for the finished goods. The method of material requirement planning is used for dependent demand and for both the manufacturing and assemblies. MRP is also used to optimize the inventory costs in case the finished product is composed of several components. Space Age Furniture manufactures tables and cabinets to hold portable televisions and microwave...
5 Pages(1250 words)Essay

Space

... Gang Territories Today, many urban environments are characterized by criminal gangs who compete for the control of gang territories and any available resources. More often, gangs declare ownership of large territorial regions; however, the gang members concentrate their actual activities in specific restricted areas. As a result, they form a set space. A gang set space can be referred to as the actual region where members of a gang come together as a gang, within a particular neighborhood (Tita, Cohen, and Engberg 273). The aim of this paper is to demonstrate gang territories in Crips and Bloods in Los Angeles. The Crips was formed back in the late nineteen sixties, and it later became the most dangerous African American street... cases,...
5 Pages(1250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Space Age Furniture Company for FREE!

Contact Us