Operations Management Work X 3 See Attached
TASKS
Create a Learning Curve Calculator similar to the one shown from the video Learning Curve Calculator.
Create a graph of Unit Cost versus Learning Rate for an initial unit cost of $100 and a production run of 1,000 units. Learning rate should vary from 0 to 100% and should use increments of 5%. Ensure you label the x- and y-axis and provide a graph title. The graph should be in its own worksheet. For help with moving the graph to a new sheet, go to How to Move a Chart onto a New Sheet in Excel.
Using the same data from question 2 (above), graph the Unit Number versus Cumulative Total Cost. Select two learning rates (Option A and Option B). Answer the following questions:
If each 5% increment of learning rate costs $1000, which option (A or B) would result in a low cost (Cumulative cost for 1,000 unit run added to the learning rate cost)?
Does your answer change if you do 50 runs in a year and the learning rate cost is a one-time cost? Explain why or why not.
Explain how you could use the PDCA cycle to reduce the Cumulative Total Cost. What are the tradeoffs to reducing Cumulative Total Costs?