Please read the instructions fully and bid only if you are able to complete as it got some finance calculations. 1200 word business school paper- $30 budget. Deadline: On or before 16th May (wednesday). Its urgent and winner will be chosen today.
Here is the paper details:
BSS009-3 Business Forecasting and Simulation
Assignment Two (Simulation)
SIMULATION OF THE STOCK CONTROL SYSTEM FOR PRINTER CARTRIDGES
Computer Accessories Ltd. specialise in printer cartridges for a wide range of printers. Their most popular cartridge (Mostpopcart) accounts for a large percentage of their business, and as a result, they are keen on examining the stock control policy for this item.
The daily demand for Mostpopcart is as follows:
Computer Accessories Ltd. re-order when the stock level is 70 printers or less and there is no order outstanding. The lead time (time between the order being placed and the goods arriving) is evenly distributed between 2 and 5 days (inclusive). Customers are willing to wait if Computer Accessories Ltd. are out of stock. The stock level is checked at the start of the day (once the delivery has arrived; all deliveries arrive at the start of the day), and if necessary, an order is placed. 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. operate the following discount system:
Quantity Orderd Basic Price
Less than 40 0%
Between 40 and 60 7.5%
Between 60 and 80 12.5%
Between 80 and 100 15%
Between 100 and125 17.5%
Greater than 125 20%
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. with 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
One Excel file (containing all the models) and the report in Word must be submitted through BREO.
Learning Outcomes Assessed
1 Apply 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.
2 Compare and contrast simulation modelling to other analytical modelling approaches Formulate a problem as a simulation and contrast this with one other relevant analytical modelling approach.
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3. Formulate and build an appropriate simulation model. Build a simulation model, make appropriate assumptions, collect relevant data, and validate and verify the model.
4 Design 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.
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Ready for milestone payment, so no need to worry about payment.
If you can, please explain how are going to do these calculations as a hint to show that you are familiar with this area.
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