Free ENBIS Webinar by Ivan Boychinov17 February 2015; 12:45 – 13:30; Webinar
Ivan Boychinov will talk about "Effect of Average Cycle Time and Cycle Time Variation on Inventory, Asset Utilization and Throughput for a Multi-Station Manufacturing Channel". The webinar will be moderated by Shirley Coleman.
As the cycle time becomes equal for a channel with multiple stations, downtime from lack of parts grows dramatically unless there is inventory to prevent the station with the lowest cycle time from being starved. A common manufacturing metric is asset utilization, and it is understandable for managers to desire expensive machinery to have high utilization. A financial optimization can be reached by balancing asset utilization and inventory. As variability in cycle time increases, the problem is exacerbated. Financial optimization of this problem along with the impact of the level of variation will be demonstrated.
This webinar will discuss:
- Relationship between utilization, variation and inventory
- Process simulation
- Mathematical modelling and optimization