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Short-Term Consequences:

-Levels of Service:

Sustaining a 95% service level is essential to satisfy customers. Erroneous determination of inventory levels can lead to stockouts or surplus inventories. Customers may get dissatisfied with stockouts, and holding costs may rise if there is excess inventory.

-Coordination of the supply chain:

Good coordination and communication with suppliers are crucial as there are various suppliers for every primary ingredient. Any delays or disruptions in the supply chain may impact production schedules and the capacity to satisfy consumer demand.

-Ingredient Variability:

The final product's taste may vary depending on how different secondary ingredients are proportioned. To guarantee consistency in taste and overall product quality, quality control procedures should be implemented.

Long-Term Effects:

-Connections with Suppliers:

Long-term partnerships with suppliers are essential to the supply chain's stability. To guarantee a consistent and long-lasting supply of ingredients, Seven Star Chocolate might have to assess each supplier's dependability, consistency, and affordability.

-Process Optimization:

To make the inventory planning process more efficient over time, the business may need to make investments in technologies and systems. This can entail using sophisticated forecasting techniques, purchasing inventory management software, or even investigating just-in-time inventory tactics.

-Cost management:

For long-term profitability, careful consideration of ingredient costs is necessary, particularly for the core ingredients. Savings could be achieved by negotiating advantageous contracts and assessing substitute providers.

-Market Demand Trends:

While keeping an eye on data from 2006 to 2010 is a smart place to start, the business should also keep a close eye on how the market and customer preferences are changing. This will assist in modifying product offerings and inventory levels to accommodate shifting demand trends.

The supply chain for Toffee Inc.

-Manufacturing and Substances Sourcing:

Seven Star chocolate bars are one of the finest products that Toffee Inc. makes among its assortment of sweets and toffees. Dark chocolate, cocoa butter, cocoa powder, almonds, condensed milk, and sugar glucose are among the ingredients of Seven Star. To preserve the quality of its products, the company places a strong emphasis on using premium, fresh ingredients.

-production Process:

To make the chocolate bars, the different ingredients are combined and processed throughout the production process. Toffee Inc. restricts the amount of Seven Star bars in stock since the product uses fresh ingredients and wants to maintain a high standard of quality. Additionally, the product has a short shelf life.

-Packaging:

The chocolate bars come in bags with 20 bars apiece inside. Each carton may store 100 bags of chocolate bars. These bags are then further packaged into cartons.

-Sales and Distribution:

With its headquarters located in Nagpur, Toffee Inc. offers direct and indirect access to towns and cities throughout Maharashtra, Madhya Pradesh, Chhattisgarh, Orissa, and West Bengal. Six depots, about fifty authorized dealers, and eighty-five sales representatives make up the organization. The branch that oversees transportation, stocking, and distribution is called the sales and distribution branch.

-Seasonal Demand and Inventory Management:

The sales and distribution team recognizes seasonal variations in demand, with peaks during festivals and marriage seasons. The nature of the product requires careful handling and climate-controlled storage during transportation and at distribution points. Toffee Inc. faces challenges in maintaining the right inventory levels due to the short shelf life of the product.

-Distribution Challenges:

Shipments take around 15 days to arrive from the day of placing the order. The ordering cost is relatively high due to the long distances the product travels, and the need for climate-controlled transportation adds to the cost. Ordering costs include communication, paperwork, service taxes, octroi clearances, and other related expenses, amounting to INR 8,000 per order.

-Costs and Carrying Costs:

The monthly carrying cost of the cartons is 2.5% of the cost of the goods, and according to company records, the cost of each carton is INR 1,200.

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We have been calculated the forcasting with Winter's model compare to Holt's model. For our group work was calculated Winter's model, it's very hard and take time so we can't complete the success result. But we can study the trend with Holt's model from friend.

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1.Entire aging product
นำเสนอได้ดีแต่อาจจะฟังยากเนื่องจากนำเสนอผ่านซูม เนื้อหาน่าสนใจ

3. Coffee product
สินค้าสามารถใช้ได้จริง มีแนวทางการจัดการที่ดี แต่ว่าการกำหนดการเงินอาจจะมีค่าที่สูงเกินไปสักนิดหนึ่ง นำเสนอได้ดีและน่าสนใจ

4. Supercapasistor
นำเสนอได้ดีและอธิบายได้เข้าใจง่าย

5. Biofilter
มีการหาข้อมูลมารองรับเป็นอย่างดี ศึกษาการตลาดและโอกาสที่สามารถต่อยอดได้ดีมาก นำเสนอได้ดีและเข้าใจง่าย

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I've learned a lot about these core quality management strategies from my investigation of the Seven Quality Control (7QC) tools. These tools, which were first introduced by Kaoru Ishikawa, are the cornerstone of quality improvement programs across numerous sectors. The tools, which include everything from flowcharts to check sheets, provide a methodical and organized way to solve problems and improve quality. Personally, I think it's really helpful that the class focuses on the four quality control tools: check sheets, histograms, pareto analysis, and cause-and-effect diagrams. These tools are notable for being more approachable, simpler to use, and extremely useful for solving issues. Engaging in the data collection process for Abacus chocolate provided an opportunity to apply these technologies in a real-world setting and highlight their usefulness. The experience demonstrated the Four QC tools' direct applicability in effectively resolving issues and advancing quality control. In general, my investigation and practical exercise have increased my understanding of these instruments and their immediate utility in resolving and enhancing real-world procedures.

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Through studying quality management, I have gained a comprehensive understanding that extends beyond the simple elimination of defects and is consistent with the engineering principles of accuracy and systemic thinking. The two points of view—Producer and Consumer—emphasize the complexity of quality and align with the methodical and organized approach of engineering projects. Quality management is a methodical and purposeful strategy that is similar to the engineering discipline's continuous improvement philosophy. The horizontal framework, which is similar to the dynamics of teamwork in engineering, fosters interdisciplinary collaboration. In engineering projects, collaborative synergy is aligned with the recognition of the team as a system. The dedication to error-free procedures and ongoing development is comparable to the engineering field's focus on accuracy and flexibility. This investigation offers important insights into the nexus between engineering and quality management by bridging engineering concepts with the strategic commitment to excellence in organizational activities.

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Examining the details of Supply Chain Management (SCM) highlights how coordinating the movement of products, data, and money is a comprehensive process. The segmentation of supply chain management (SCM) into planning, sourcing, production, distribution, and customer service corresponds with the methodical and process-oriented approach developed in engineering education. The emphasis on careful planning for inventory control and demand forecasting is consistent with the need for accuracy in engineering projects. Knowing the factors that influence supply chain performance, such visibility, inventory control, and technology integration, is similar to realizing how crucial it is to optimize and streamline engineering procedures. Similar to the emphasis on responsible engineering techniques, concepts like risk management and sustainability draw attention to the necessity of ethical and forethoughtful concerns. The interdependence of elements such as transportation, supplier relationships, and quality management highlights the importance of a multidisciplinary and collaborative approach that is crucial for both SCM and engineering. The organized and compliance-oriented nature that permeates engineering projects is shown in the recognition of the importance of efficient cost control and regulatory compliance. Successful supply chain management and engineering techniques are similar in that they both require a strategic, coordinated, and flexible approach to attain competitive advantage and operational excellence.

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At the beginning of the class, there was a recap of inventory, including how much to order and how much to order. As for how much to order? Must consider storage costs and purchasing costs or holding costs such as water costs, electricity costs, product temperature adjustment costs, and product insurance costs, etc., including transportation costs, ordering costs, with the use of EOQ to help in the calculation. As for when to order, ROP may be required to calculate to find the reorder point Q-system. Before we calculate when to order, we must calculate the quantity to order first and that each order will have the same amount and must have been calculated that this amount is the most appropriate. It can be seen that the frequency of ordering at each time period is not the same. By calculating orders from demand throughout the year, if sales are not good, the calculation must be recalculated because if the same calculation is still used, it will increase the cost of ordering. There is also another type of calculation, P-system, which is a calculation where the ordering time is the same by calculating the order interval first by ordering fewer or more items in order to replenish the items until maximum inventory for products that have a chance of spoiling Such as newspapers that need to be updated daily. Use a single period inventory calculation and do not use EOQ because it requires big data and a lot of historical data. This approach can be applied to help businesses. Optimal order quantities can be determined without the need for extensive historical data. Basically, implementing these inventory management concepts in everyday life involves careful consideration of product characteristics, demand format and related costs Whether managing a grocery store, bookstore or any business with inventory. Striking the right balance between ordering costs holding costs and product features helps ensure efficient and cost-effective operations.

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As an engineering student, delving into the intricacies of demand forecasting provides a valuable perspective on the intersection of technology, data analysis, and strategic decision-making. The various methods outlined, from qualitative approaches and time series analysis to machine learning and AI algorithms, resonate with my inclination towards leveraging advanced tools for problem-solving. The emphasis on data collection echoes the engineering principle of relying on accurate and relevant data to inform decisions, mirroring the precision required in technical endeavors. Understanding the factors influencing demand forecasting, including internal and external variables, inventory management, and production planning, aligns with the systematic approach often emphasized in engineering studies. The incorporation of technology and tools, ranging from traditional Excel models to cutting-edge AI solutions, underscores the dynamic nature of integrating technology into business processes—a concept fundamental to modern engineering practices. Moreover, the consideration of risk management and ethical considerations, especially in the context of AI and machine learning applications, reflects the growing awareness of responsible technology use, a crucial aspect for engineers in today's evolving landscape. Overall, this exploration of demand forecasting resonates with my engineering mindset, emphasizing the importance of data-driven decision-making, technology integration, and systematic approaches to enhance efficiency and optimize resource allocation.

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The insights derived from the course's marketing strategy not only resonate with but significantly enrich my approach as an engineer. The emphasis on a Customer-Centric Focus is particularly pertinent, aligning seamlessly with my commitment to crafting solutions that not only meet technical standards but also resonate with and fulfill users' evolving demands. The principle of Making Decisions Based on Data seamlessly aligns with my engineering philosophy, where precision and optimization are paramount, reinforcing the importance of data-driven approaches in refining and improving technical solutions. The recognition of SEO and content marketing as vehicles for effective communication and exposure underscores the value of showcasing the technical merits and innovations within engineering projects. The concept of Flexibility and Ongoing Development resonates with the iterative and dynamic nature of engineering projects, where adaptability is crucial for success. The emphasis on Working Together Across Teams highlights the significance of interdisciplinary collaboration between engineering and marketing teams, showcasing how a cohesive approach can enhance both technical and marketing aspects. Setting strategic goals mirrors the goal-oriented mentality ingrained in engineering projects, providing a structured framework for achieving success. Lastly, the acknowledgment of Technology Integration underscores the importance of incorporating state-of-the-art technologies into both engineering and marketing initiatives, showcasing a shared commitment to innovation and advancement in both domains.

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This week, the teacher gave feedback on financial management and future budget planning. I also studied engineering economics, which is related to financial function, which includes investment decisions such as selling factories, changing storage, and using Robots in the workplace, etc. are used in conjunction with the balance sheet to view current assets and statements. Carrying too much cash is not always a good thing. You may need to convert the money you have into other costs. Another part is financial decision, which involves investment decisions about which projects we will choose to invest in and where do we have to get the investment money from? There are two types of financing: debt financing, which is money that comes from a mortgage or loan, and equity financing, which is money that is owned by the owner. Before investing, the MARR must be calculated first. Return on the money that will be invested. In addition, there was a lesson on the allocation of profit. Allocate a portion of the profits to be used as dividends and set aside another portion to be used for further investment, which must have the appropriate proportions. This week's activity is about accepting donations of Japanese trains for Thailand with the aim of tourism. Try to think about how much cost-effective it is by applying all the methods you've learned so far. Obviously, each group of friends uses different ideas and requirements. It allows me to see various approaches and ideas of our friends that I might not have thought of in our work. These things can be used to help fill in what we lack.

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This week there is a quiz that reviews lessons and content learned in previous weeks. By setting up your own questions to cover as much content as possible that can be used to evaluate yourself and answering questions that friends are asking as well. This makes it possible to know for yourself how we have been able to apply the knowledge we have learned in the past to our work and thought processes and activities with the question of finding interest in investing in each assigned company. I learned how to look at statements from various companies to compare and find channels for investing in order to convince friends to be interested in investing in this company. See what the company's financial status is like each year and how many advantages and disadvantages there are. This activity can be applied to opportunities in which we may want to invest in the future. Learn about cash flow analysis and investment decision. In addition, will also apply the investment thinking methods that you have learned in the previous semester.

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This week there was a debate on the flat and tall governance structure, with the debate going on to argue about what structure is most appropriate for the university. The results can come out very well. It gives a new perspective on the content of each structure. It was clear that everyone had done their homework well. Even though I'm not the person who went out to debate. But it can be seen that all friends are working hard. Try to find new and different information to share with friends. along with reasons to support Practice immediate thinking and problem solving in debates. In addition, they learned about SWOT, which is a method of thinking and planning through your own strengths and weaknesses. and find ways in which it can be improved in the future which can be applied in everyday life Long-term management planning to find appropriate ways to develop both the organization and oneself according to the global context and in the society in which they live. There is still the issue of solving problems in the practice that still remains. Because the problem was not answered directly or may not have been thought through in the story. You may have to practice a lot in this matter. To serve as a way of thinking or looking for directions in the future. Finally, there is the matter of group thinking by helping each other choose items that they think will be needed when stranded on an island. After that, give points to the items you have chosen. It was found that when the scores came out, the individual scores were higher than the scores calculated as a group. There may be some doubt, but the obvious thing is to follow other people's ideas. Even though you may think in another way but do not express your opinion. Next time when there is another activity or brainstorming like this. We should express our own opinions. Even if it's a democracy. But at least we should be able to express our own ideas in the public space, but it still has to be appropriate.

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This week I did an activity on the top CEOs that were randomly selected. The one that got was Jiraphon Kawswat, which showed that anyone can make progress. If you don't stop developing yourself, look ahead and clearly define your own path. Even though she started out working in a general position, didn't come from a big position. It allows us to have faith and hope that we can get to that point as well. I must start from myself first, must have confidence in ourselves. Always grab and find opportunities for yourself. However, no matter where we are right now. We should also have respect for ourselves and others. Even though they are leaders, they should be considerate of others as well. There are many levels of leadership, but at every level, different levels of management are required. Makes us have to adapt. Always learn and act appropriately. This week we learned about management which can be applied in our daily life.

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From class this week in going out to present It was found that the preparation was not as good as it should have been. The script is still being read. And the presentation is still not good enough, the content presented does not meet the assigned problem due to incomplete and detailed reading. Next time, I will practice reading and interpreting the given problems better. And practice applying what has been learned to suit the problems received may enhance and develop thoughtful thinking and looking at a wider perspective for appropriateness. In addition, additional knowledge must be sought to complement the content that has been learned.  The most important thing is to respect the friend who is presenting. Although this week may have been a little distracting but next time, I will pay more attention to the people in front of the class.

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In the first week, there may not be much understanding of the content studied cause there may still be some delay in learning. And while doing group work with friends May not have offered as many ideas as they should, do not have much role in working together. Next time will be more active in working, in order to make the work come out the best

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My name is Kalyarat Pokaew, can call me  Pangpond.👋🏻

I’m studying Chemical engineering, KMUTT 📚

I love coffee ☕️ and friendly with dogs 🐶

My hobby : listen to music 🎵 and read comics

My favorite color : GREEN 🌱

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[16/08/23] Case: Five (Four) Functions of Management

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[16/08/23] Case: Five (Four) Functions of Management

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How Panera Found Success in a Down Economy