Hello,
Please make sure that everything is properly formatted according to APA guidelines and that a plagiarism check is completed before submission.
Instructions
This Critical Thinking Assignment consists of two activities:
- Perform the Pearson MyOMLab: Operations Inventory Management and
- Submit either a written Operations Inventory Management paper OR a multi-media presentation.
Steps to Guide You Through the Assignment Applicable to the Both the Paper and Presentation Options
- Access the Pearson MyOMLabLinks to an external site..
- Carefully review the simulation's introductory information and instructions and the information in the OM Simulation Descriptions and Implementation Tips. After completing the simulation, capture a screen image of your final simulation results, including the rubric evaluation metrics (i.e., MAPE), which will be included in your Critical Thinking Assignment.
- The Operations Inventory Management content, paper or presentation option, must include the following sections:
- 3.1 Introduction: Explain the purpose or thesis of the paper and explain how the body of the paper is arranged to support the purpose of the paper.
- 3.2 Briefly define inventory management and identify why it is important in an organization's operations.
- 3.3 Provide a brief overview description of the Inventory Management Simulation, including the targeted goals of the simulation.
- 3.4 Describe specifics about the model or approach used as the basis for your strategy in performing the Inventory Management Simulation; in an appendix, including an illustrated (worked-out) example of a formula, calculation, or technique developed as a central part of your Inventory Management Simulation strategy. In your strategy, discuss whether you prefer EOQ, POQ, or QD model and explain why.
- 3.5 Describe at least three operations inventory management methods, principles, or techniques experienced in the Inventory Management Simulation. For example, these may include lead time, Q*, safety stock, and ROP. Please make sure to describe your hypothesis/rationale for selecting each.
- 3.6 Clearly describe your simulation results and indicate how well they met the targeted simulation goals.
- 3.7 Itemize at least three lessons learned from the Inventory Management Simulation and describe how this understanding is important for a career in operations management. Here, you may describe how Q*, ROP, safety stock, and lead time are connected with each other and with profits. Additionally, describe how holding costs, excess inventory, stock outs are related to each other and with profits. Describe any risks you encountered and how you managed them.
- 3.8 Conclusion should present a recap of key points and a summary of the main emphasis without repeating verbatim and exclusive of new information.
- 3.9 References should include at least two current scholarly references (published within the past five years) in addition to the course text.
- 3.10 Appendices:
- 3.10.1 Illustrated (worked-out) Inventory Management example. For example, show calculations of Q*.
- 3.10.2 Inventory Management Simulation results, including the rubric evaluation metrics (i.e., Profit).
Thank you very much for your help. I really appreciate it!
Option #1: Simulation and Paper
Guidelines, Requirements, and Submission
- Compete the MyOMLab simulation as per the instructions above.
- Your written Operations Inventory Management paper must contain the sections outlined in the instructions.
- Your well-written paper should be 3 pages in length, not including the required cover and reference pages.
- Remember to include a screenshot of your final simulation results.
- Format your paper according to APA guidelines in the CSU Global Writing Center. The CSU Global Library and Writing Center can be accessed from the left side course navigation panel. In the CSU Global Writing Center, you can access sample papers to help with formatting sections of your paper.
- Submit your Critical Thinking Assignment document(s) in the submission area established for this purpose. Per the assignment rubric, a portion of your evaluation is based on your simulation results.