Stanford University Graduate School of Business April 29‚ 2009 * * Managing a Short Product Life Cycle at Littlefield Labs Background In early January‚ Littlefield Labs (LL) opened its first and only highly automated lab to test blood samples. LL receives the samples from local hospitals and clinics and processes the samples using disposable kits. After 360 days of operation the lab will cease operations‚ shut down‚ and dispose of any remaining kit inventories. Neither capacity nor inventory has
Premium Safety stock Inventory Reorder point
LittleField (1) What was your initial strategy and how/why did you change your strategy during the game?. (2) Which concepts that you learned in this course did you apply in making your decisions? Explain. (3) What did you learn from the game? General Strategy Getting into the game our strategy was to identify the bottleneck in the process and maximize its utilization. We were aiming to balance our stock so a new stock will arrive every 4 days‚ and the current stock will not run out (but will get
Premium Inventory Cost Contract
Overview and Objectives The game was held over a week and enabled us to increase our understanding of inventory management at the production stage in the supply chain. In this game‚ the objective was to accomplish production and delivery of the production within 3 days of lead time. Over the course of the game‚ we were to monitor the production numbers and make adjustments through the number of machines which we owned. Machines affected the revenues through the purchases and the goal was to obtain
Premium Decision making Machine Decision theory
Technology Solution to a Business Problem Subject of Course Project Advanced technology is proved to be beneficial for organizations and business more than ever before‚ it helped in bringing business close. It assisted in each and every aspect of business from making team of best employees‚ to booking order‚ delivery of products and their support. We need to use advanced technology in order to help business needs of an organization or use specific technology to solve a business related issue
Premium Cloud computing Client-server
Synergetic Solutions Report Individual COURSE DATE Professor Synergetic Solutions Report The Synergetic solutions simulation helps in deciding what steps need to be taken to help the company succeed in the networking solutions market. There were different strategies that could be implemented‚ and also actions plans to take in making the company successful. In cases where productivity increases absenteeism was on the decline. This simulation allows for the identification
Premium Management Project management Strategic management
Littlefield Simulation II Based on our success in the last Littlefield Simulation‚ we tried to utilize the same strategy as last time. Our goals were to minimize lead time by reducing the amount of jobs in queue and ensuring that we had enough machines at each station to handle the capacity. We wanted to keep the lead time between .5 and 1 day in order to get the maximum amount of revenue per job. We utilized data from the first 50 days and put it in an Excel chart to forecast the demand for the
Premium Reorder point Safety stock Maxima and minima
MGT 9702 – SERVICE OPERATIONS I LITTLEFIELD TECHNOLOGIES – OVERVIEW Littlefield Technologies (LT) produces Digital Satellite System (DSS) receivers. These receivers are assembled from kits of electronic components procured from a single supplier. The assembly process consists of four steps carried out at 3 stations called board stuffing‚ testing and tuning. The machines at these stations cost $90‚000‚ $80‚000
Premium English-language films
Littlefield Labs 1 Capacity Management at Littlefield Labs I. Introduction There are 3 stations in the game called sample preparing‚ testing‚ and centrifuging‚ while there are 4 steps to process the jobs. Before the game started‚ we tried to familiarize with the process of the laboratories and calculating the costs (both fixed and variable costs) based on the information on the sheet given. We did not intend to buy any machines too early‚ as we wanted to see the demand fluctuation and the
Premium Time Capacity utilization Variable cost
ittlefield Simulation #1: Capacity Management Team: Computronic When the simulation began‚ we quickly determined that there were three primary inputs to focus on: the forecast demand curve (job arrivals‚) machine utilization‚ and queue size prior to each station. Specifically we were looking for upward trends in job arrivals and queue sizes along with utilizations consistently hitting 100%. Upon initial analysis of the first fifty days of operations‚ the team noticed that Station 1 had reached
Premium Capacity utilization Operations research Purchasing
The Proposed Technology – Improve the Process The technology solution implemented will help gather data through the entire business process and from this‚ we will be able to become more efficient‚ reduce costs‚ plan services based on customer requests‚ order the correct amounts of supplies‚ procure supplies at best value‚ track clientele routines‚ know what each customer expects‚ program ample staff during peak days/hours‚ recognize the value of monthly specials‚ capitalize on marketing the
Premium Laptop Personal computer Procurement