Computation Section
 This section describes add-ins that are useful for the analysis of manufacturing systems. The topics considered are often taught in an academic program for Operations Management or Industrial Engineering. The add-ins may be installed and removed using the Add OMIE add-in. Their options are placed under a new Excel menu called OM_IE. If you are unfamiliar with the use of add-ins please read the Add-in Basics discussion in the Computations section of the ORMM site.

Unit Add OMIE

This add-in places the item Add OMIE on the OM_IE menu. Selecting this item presents a dialog box that allows easy installation and removal of the other add-ins in the collection. A second dialog easily loads demonstration workbooks.
 
Unit Investment Economics

This add-in performs a variety of procedures to evaluate investment alternatives. Included are procedures to define projects and compute measures of effectiveness such as present worth, annual worth and internal rate of return. Functions are provided to compute the traditional time value of money factors. Projects may be defined with tax and inflation considerations. Cash flows are presented in either tabular or graphical displays.
 
Unit Portfolio

This add-in uses optimization for two kinds of portfolio problems. Capital Budgeting selects a portfolio from a set of candidate projects. A project is described by its initial investment, annual return, salvage value and life. The first three of these factors are described by averages and standard deviations. Markowitz Portfolio analysis determines an optimum mix if financial securities considering both security returns and risk. Risk is measured by the statistical variance of the portfolio. The analysis uses historical return data to determine the expected return for each security and the covariance matrix showing the dependence between securities.
 
Unit Process Flow Analysis

The Process Flow Add-in provides a tool to analyze and design manufacturing systems. Four principal activities are supported: process definition, economic analysis, resource requirements analysis and product mix decisions.

The add-in constructs decision models using the Math Programming add-in. That add-in must be installed in order to construct linear and integer models.

 
Unit Facility Layout

This add-in accepts as data: a list of departments, physical size of departments, part flows between departments and the size of a proposed plant. The program uses the CRAFT procedure in an attempt to find the layout of departments that minimizes the distance over which parts must flow. A graphical presentation of the layout allows the designer to experiment with alternatives.
 
Unit Forecasting

The add-in implements several forecasting methods for data series including: moving average, exponential smoothing, regression and double exponential smoothing. The add-in constructs a form that holds the data and uses functions to compute forecasts and forecast errors. Several data series can be analyzed on a single worksheet page. An option allows comparison of several methods for a single time series. A simulation option creates data simulated with the Monte Carlo technique. Equity stock investment analysis provides and example.
 
Unit Inventory Analysis

The subject of inventory control is a major consideration in many situations. Questions must be constantly answered as to when and how much raw material should be ordered, when a production order should be released to the plant, what level of safety stock should be maintained at a retail outlet, or how in-process inventory is to be maintained in a production process. This add-in provides answers to some of these questions using the results of inventory theory.
 
Unit Materials Requirement Planning

Materials Requirement Planning (MRP) is a scheduling procedure for production processes that have several levels of production. Given information describing the production requirements of the several finished goods of the system, the structure of the production system, the current inventories for each operation and the lot sizing procedure for each , MRP determines a schedule for the operations and raw material purchases.

 

 
Unit Project Management

The Project Management add-in implements the Critical Path Method (CPM) and Project Evaluation and Review Technique (PERT) for scheduling the activities in a project.

     

  
Return to Top

tree roots

Operations Management / Industrial Engineering
Internet
by Paul A. Jensen
Copyright 2004 - All rights reserved