Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Time Lag Effects - Operations Function
Feedback control in complex systems can bring its own problems, due to time lag between measuring the output deviation and realising the effects of the corrective adjustments. A well-known illustration of this phenomenon was presented by Jay W Forrester in his book, Industrial Dynamics. He had been consulted by a white goods manufacturing concern which had been experiencing wildly fluctuating production levels over a period of years; despite the best efforts of the company's management they had been unable to keep production output in reasonable balance with customer demand. Forrester and his team studied the operations of the company's distribution chain (shown in simplified form in the figure) and formulated a computer simulation model of the factory - warehouse - distributor - retailers.
The figure below (adapted from Forrester, 1965) shows the results obtained when a 10 per cent step-increase in demand at the retail outlets was introduced. This chart is necessarily 'cluttered', to show how the various order, inventory and production levels changed in response to the initial increase in sales.
For our purposes it will be sufficient if you locate the two lines labeled 'Retail sales' and 'Factory production output'. It was found that, because of a series of time-lags in the chain, the feedback signal was greatly amplified by the time it reached the factory, resulting in over-reaction. Note that the production level climbs by 45 per cent, creating an excessive build up of inventories. In response the production level falls to 3 per cent less than the original level, and so on. It takes about 18 months for the fluctuations to be damped out.
Production Planning and Control - Definition According to Alford and Beatty " Production planning and control comprise the planning routing scheduling dispatching an
Sub optimisation - Operations Function Another important issue raised by the systems approach is that of sub-optimisation. This is of considerable significance for managers, a
What are the three basic financial statements, and what major information does each contain? If you were planning to invest in a company, which of the three types of financial stat
construct a house of quality matrix for a wristwatch?
In comparing two populations using paired differences, after the difference is found for each pair, the method for testing whether the mean difference is equal to 0 becomes the sam
Please explain how you would handle the following question: An environmental impact statement confirms that you are within your legal rights to build a hotel property in a scenic a
Assume you are going to give a presentation to about 30 people in a medium sized room. In order to maximize the contrast, you used black letters on white background in your slides.
Was there some other way to estimate the cost of equity as a check on the CAPM calculation?
As CEO of Ashford Medical Center, the Board has authorized you to work with the Medical Director, the Chief of Staff, and Medical Staff in the development of an exciting new progra
Search the news for a current event/ issue/ crises a company is dealing with today. Imagine that you are the release that might result in a favourable article. Follow the format su
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd