Industrial Studies (M3H606420) Semester B 2016- 2017 1
Caledonian College of Engineering Course Work
Name of the programme BSc CAME/POM/COE/EE/EPE/TC Name of Module with Code INDUSTRIAL STUDIES (M3H606420)
Name of the Module Leader/Tutor
Mr. Motilal Lakavat-Module Leader Ms. Shetha Daniel –Module Tutor course work Type Assignment Assessment weightage 18% Date of submission 18th May 2017
Aim To develop an understanding of overall concepts of various industrial manufacturing process and management functions.
Objective/s Giving exposure to the students about local markets and identify the products and their demand in the market. And also to identify the concepts of manufacturing system by applying the knowledge of management skills.
A. Knowledge and understanding of the topic Demonstrate knowledge of acquisition of information Demonstrate appropriate application of module knowledge Demonstrate wider reading and comprehension of topic Application and analysis of the topic (Module specific Skill) Study the products available in the local market. Perform investment appraisal Understand the concept of maintenance Understand the concept of a manufacturing system and the factors to be considered when designing a manufacturing system (Job sequencing). B. The structure in terms of logic and coherence Submissions should have a clear start and a clear end. Information within submissions should also be logical and well grouped by following Report structure with Introduction and
Referencing, Result Analysis, and Conclusion & Future works.
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C. The use of relevant work examples and/or examples gained from further reading The following books may be referred for preparing the course works 1. Dyson, J.R., 2001. Accounting for Non-Accounting Students, Harlow: Financial Times/Prentice Hall. 2. Peter Atrill and Eddie McLaney, 2008, Accounting and Finance for Non-specialists, New York: Prentice Hall. 3. James C Van Horne, 2007. Financial Management & Policy, P New York: prentice Hall. 4. Joseph G. Monks, 2008. Operations Management, 3rd edition, New York: McGraw-Hill international Editions. 5. Lee J Krajewski and Larry P. Ritzman, 2007. Operations Management, 5th Edition, Upper Saddle River: Addison- Wesley. 6. Philip E. Hicks, 2006. Industrial Engineering and Management, 2nd Edition, Mc Graw Hill College. These reading lists are not exhaustive and candidates are encouraged to read further and reference at the end of the course work using CCE Harvard style of referencing. Marking scheme
Component Weightage Total Marks Knowledge and understanding of the topic 30% 30
Application and analysis of the topic (Module specific Skill)
35% 35
The structure in terms of logic and coherence
30% 30
The use of relevant work examples and/or examples gained from further reading
5% 5
Please note all assignments shall subject to plagiarism software checks, “TURNITIN”. Plagiarism It is important to understand what plagiarism is and how it can be avoided. “Unacknowledged copying from published sources (including the internet) or incomplete referencing”. The following also constitute plagiarism: • Copying sections of work from a friend/colleague. • Having a friend/family member dictate something to you. • Copying and pasting from the internet without citing the source. • Copying directly from a study text quotation without citing the source.
Industrial Studies (M3H606420) Semester B 2016- 2017 3
Quotations When using quotations from books, websites or journal articles you should cite the author and the year of publication then use the quote in quotation marks.
Paraphrasing Paraphrasing is where you encapsulate another person’s original idea, argument or conclusion in your own words. It is still necessary to attribute those ideas to the author, and you can do this by using the formatting outlined above for direct quotations, taking care to include the author’s surname and the year of publication.
Collaboration We acknowledge that you may undertake joint study with colleagues or as part of a formal training programme. However, working with another person to write assignments is not acceptable. Your answers must be your own and in your own words.
Referencing Harvard Referencing (CCE Style) First Edition 2013 should be followed for both in-text and listing references. This downloadable document can be found in our CCE portal at: http://portal.cce.edu.om/member/contentdetails.aspx?cid=628
Turnitin check requirements 1. Plagiarism is a serious offence. In case of any plagiarism detected, penalty will be imposed leading to zero mark. 2. Course work and reports should be solved by the individual. 3. Course work and reports should be submitted on time and submission after deadline will be marked zero. 4. Course work should be submitted with an appropriate cover page, which can be obtained from the departmental assistant at the department. 5. Name, student identification and title of the course work to be written clearly and legibly on the cover page. 6. The completed course work is to be submitted to the departmental assistant on or before the deadline and record your name, date of submission and signature in the book with the departmental assistant.
Industrial Studies (M3H606420) Semester B 2016- 2017 4
Grading of Course work
BSc (GCU)
Programmes
Excellent contribution 70% and above
Good Contribution 60% - 69%
Average Contribution 50% - 59%
Adequate Contribution 40% - 49%
Inadequate Contribution 30% - 39%
Not meeting the outcomes Less than 30%
Name and Signature of Module leader
Mr.Motilal Lakavat Date: 19/1/2017
Industrial Studies (M3H606420) Semester B 2016- 2017 5
Task Section- A (Total Marks 45) 1. Task in this question requires each student to carry out local market study, survey and analysis. Each one should visit the local market places, select any Five products (electronic / automobile / any other consumer products) with all brands available in the Oman market, study the product in detail, and carry out the survey and provide answers for the following questions in the report:
i. Mention any two products with details like Name, Specifications, Prices and Manufacturers. 4Marks ii. ‘It has been observed that the design of any existing product in today’s market is modified with revised or new versions’. Explain why the manufactures keep changing the design of the products, supporting your answer with a product example. 8Marks iii. Identify any product whose sales and demand are very high in local market as compared to the other product in the same segment and discuss various factors affecting higher sales/demand of the product in the market. 8Marks 2. i. the government of Oman has implemented new policies due to the low oil/gas price, Suggest appropriate measures to be taken by local manufacturing industries in order to Sustain in the market till recovery of oil price to the normal level. 9Marks ii. Write major advantages and disadvantages of Discount cash flow and Non discount cash Flow techniques followed in capital investment. 6Marks 3. Break-even analysis helps a manager to understand more clearly the nature of relevant costs and their importance in managerial decision making, resulting in that the manager is able to take more sound and effective decisions. Explain its relevance to any manufacturing industry, supporting your answer with an example. 10Marks NOTE:-
a) Answer to all the questions from Section-A. Answers should be related to the questions and the answers all together should not exceed more than 1000 words. b) Language skills and clarity in the contents with subject knowledge are essential and marking will be done accordingly. c) Students are advised to proof read the entire report once completed before uploading to TURNITIN and the report should be free from language errors. d) CCE Harvard reference format need to follow for the report. e) The report should be TURNITIN checked and a SIMILARITY INDEX REPORT should be submitted along with the report by the student.
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Section- B (Total Marks 55) 4. Rusyl plastic processing industry is a well reputed company in Oman. The company from time to time carrying out the market survey with the support of a local consultancy company identifying potential market for any new products and its demand in the market. The consultancy company has submitted a feasible report after the market survey to the company stating in the report that a new product shows a demand forecasting with 3,200 units per week over 52 working weeks in a year and the company requires an investment of RO 50,000 to meet the target quantity. Also, the following information in Table Q4 pertaining to the costs and other financial aspects is provided by the consultancy company.
Description Details Unit price of the product RO 2.5 Raw material cost RO 1.4 Production time per unit product 25 standard minutes Employee charges RO 50 per week Annual fixed costs RO 36,000 Other variable costs per unit RO 0.400 Annual scrap value RO 8000 Cost of capital 12% Corporation tax payable every year 30% Working week (hrs) 40 Life of the product (years) 8
Table Q4
i. A company is very much concerned on the future value of net cash flow before venturing into the production of new product. As the company’s requirement on the new project and their interest on NPV calculations, determine NPV for the new project proposal. 10Marks ii. Using the information from the table 1 if an alternate option is available to buy the raw material at the price of RO 1.3 and other variable cost is RO 0.600 with fixed cost of RO 42000, determine NPV for the alternate option. 8Marks iii. Mention whether the company can take a decision to accept the new project proposal or alternate option. 2Marks iv. If the industry considers the third option, project C is to buy in 4000 components per year from another company at a price of RO 120.000 per unit, how much amount of money is to be paid per year? 2Marks v. Calculate Break Even point and margin of safety (units and value) If the company sells 3200 units of new product per year at a price of RO 45 .000 for both the options. 8Marks
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5. Madina manufacturing industry is producing metal plates for seven products for Seeb service center, the process industry executes and completes all works sequentially. Under the terms of contract between the two companies, the process industry will receive RO 2,000 for each work completed on time, but it will incur RO 3,000 in penalties for each work completed late. The details of each product, processing time for each product, and the due days are shown in the Table Q5.
Products
(Works)
Processing
Time (Days)
Due days
A 5 10
B 14 32
C 4 16
D 10 19
E 12 26
F 8 22
G 15 18 Table Q5 i. Considering the data in the table Q5 as single machining schedule, determine the sequence which will minimize the maximum lateness and also, maximum lateness with respect to the optimal sequence and also, find out the tardy works and how much revenue will be lost due to tardy jobs 5Marks ii. By using Hodgson’s algorithm, determine the sequence of all works in order to maximize net revenues. 15Marks iii. Mention how much revenue will be saved if Hodgson’s algorithm is followed by the company. 5Marks