Industrial Studies (M 3H606420 ) Semester B 2016 - 2017 1 Caledonian College of Engineering Course Work Name of the programme BSc CAME/POM/C O E/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 18 th 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 t o 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 followi ng Report structure with Introduction and Referencing, Result Analysis, and Conclusion & Future works. Industrial Studies (M 3H606420 ) Semester B 2016 - 2017 2 C. The use of relevant work examples and/or examples gained from further reading The f ollowing 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 fri end/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 (M 3H606420 ) 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 o utcomes Less than 30% Name and Signature of Module leader Mr.Motilal Lakavat Date: 19/1/2017 Industrial Studies (M 3H606420 ) Semester B 2016 - 2017 6 Section - B (Total Marks 5 5 ) 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 compan y requires an investment of RO 5 0,000 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 0.40 0 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 t he produc tion of new product. As the company’s requiremen t on the new project and their interest on NPV calculations, determine NPV for the new project pro posal. 10 Marks ii. Using the i nformation 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. 6 00 with fixed cost of RO 42000, determine NPV for the alternate option. 8Marks iii. M ention whether the company can take a d ecision to accept the new project proposal or alternate option. 2 Marks iv. If the industry considers the third option, project C is to buy in 4 000 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? 2 Marks 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 Industrial Studies (M 3H606420 ) Semester B 2016 - 2017 7 5. Madina manufacturing industry is producing metal plates for seven products for Seeb service center , t he process industry executes and completes all works sequentially. Under the terms of contract betw een 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 sho wn in the Table Q 5 . Product s (Works) Processing T ime (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 Q 5 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 ta rdy jobs 5Marks ii. By using Hodgson’s algorithm, determine the sequence of all works in order to maximize net revenues. 15 Marks iii. M ention how much revenue will be saved if Hodgson’s algorithm i s followed by the company. 5 Marks