Business & Finance

Turn 1

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 1
Question: What is the main difference between “make-to-order” and “make-to-stock” systems?
Answer: make to stock means you receive the product made and you simply sell. Make to order means you actually assmeble or process materials to be shipped.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 $9,813.01 $11,913.01 100 No
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Turn 2

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 2
Question: Why would the quality of incoming raw materials be as important as the cost of those materials?
Answer: because it can affect quality of the end result. Sometimes low quality is ok and is cheaper, sometimes it is not.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 $7,660.58 $10,010.58 100 No
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Turn 3

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 3
Question: What are possible reasons that a firm may choose to carry raw materials in inventory before they are actually required for production?
Answer: in case orders come in with tight timeframe
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 $5,434.00 $7,784.00 100 No
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Turn 4

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 4
Question: Why is inventory seen as a form of “waste” in lean systems?
Answer: it costs money to house it, and if it could have done in future for cheaper price (lead time discounts for materials).
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 $3,066.82 $5,416.82 100 No
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Turn 5

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 5
Question: In a “just-in-time” system, why is it important to have reliable suppliers?
Answer: Because as the book notes, not having a material can bring your process to a halt.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 $2,053.81 $4,403.81 100 No
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Turn 6

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 6
Question: Why do suppliers offer quantity discounts?
Answer: to entice customers to buy more than they need and get inventory out of their hands. Costs money to house inventory.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 -$5,646.01 -$2,296.01 100 No
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Turn 7

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 7
Question: Why is inspection of raw materials often an inefficient means of improving the quality of the stock?
Answer: because you lose quantity.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 -$7,634.83 -$4,284.83 100 No
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Turn 8

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 8
Question: What are the potential costs of carrying inventory?
Answer: space, workers to process, and not making interest in the money spent to buy and process materials.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 0 0% 0% $0.00 -$9,664.32 -$6,314.32 100 No
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Turn 9

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 9
Question: Why do suppliers offer discounts for orders with longer lead times?
Answer: because the supplier might use JIT manufactuering as well and lead times let them order materials at cheaper cost and can pass savings down to you.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 3 67% 100% $14,000.00 $54.70 $4,154.70 205 No
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Turn 10

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 10
Question: In a make-to-order system, which inventory stage (raw materials, work-in-process, or finished goods) is likely to have the highest inventory levels? Which stage is likely to have the lowest?
Answer: finished goods has the lowest and raw materials likely the highest.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 4 50% 100% $15,600.00 -$151.42 $3,948.58 230 No
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Turn 11

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 11
Question: In a make-to-stock system, which inventory stage (raw materials, work-in-process, or finished goods) is likely to have the highest inventory levels? Which stage is likely to have the lowest?
Answer: raw materials lowest, and finsihed goods highest.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 4 50% 100% $15,600.00 -$1,683.04 $2,416.96 230 No
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Turn 12

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 12
Question: Why is the reduction of setup times so important in lean manufacturing systems?
Answer: less wasted time in handling multiple orders.
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 5 60% 80% $36,600.00 $17,557.59 $21,657.59 261.2721417318 No
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Turn 13

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 13
Question: Why is it often beneficial to develop a long-term relationship with suppliers?
Answer:
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 5 60% 80% $36,600.00 $17,322.33 $21,422.33 261.2721417318 No
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Turn 14

Name: Module 2 for Week 3 Lecturer: OPS571 July
Description:
Turn: 14
Question: In many just-in-time systems, suppliers open a facility close to their key customers. Why would this be advantageous?
Answer:
Player Bids Submitted Bids Won Contracts Complete % Completed on Time % Satisfied on Quality Total Contract Value Account Balance Net Worth Reputation Score Goal Achieved Answer
ANDREW STRONG 0 0 6 50% 83% $44,850.00 $24,871.60 $28,971.60 276.2721417318 Yes
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