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Capstone Project Final Presentation May 16, 2002 Dr. Thomas Robinson CMfgE

Capstone Project Final Presentation May 16, 2002 Dr. Thomas Robinson CMfgE. Agenda. Product Review Goal Review Design Review Manufacturing Quality Finance. TL. Product Review. HITCH MOUNTING RACK WITH FLEXIBLE ACCESSORIES THAT FIT THE ACTIVE LIFESTYLE. TL.

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Capstone Project Final Presentation May 16, 2002 Dr. Thomas Robinson CMfgE

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  1. Capstone Project Final Presentation May 16, 2002 Dr. Thomas Robinson CMfgE

  2. Agenda Product Review Goal Review Design Review Manufacturing Quality Finance TL

  3. Product Review HITCH MOUNTING RACK WITH FLEXIBLE ACCESSORIES THAT FIT THE ACTIVE LIFESTYLE. TL

  4. Tim Legris - Project Manager Ramon Tejada - Controller Jim Lambert - Marketing Lindsey Erickson - Design Engineer James Rice - Research and Development Specialist Randy Renwand - Director of Operations Bao Doan - Quality Engineer TL

  5. Company Goals Determine manufacturing capability by July 31st 2002 Verify design through market surveys Proof and Pilot run verification Prepare for rollout utilizing yield management TL

  6. Company Goals Continued Product for sale in stores by November 1st 2002 Determine ideal FleXhitch retailer and stock 20 stores with 5 units each Implement KANBAN manufacturing process Develop Marketing strategy to enter the new vehicle market Capture 50% of Southern California market by December 2003 Perform Market Analysis and improve sales approach to meet goals Implement a Focus Team to reduce production costs by 30% and increase yield by 40% TL

  7. Company Goals Continued Be a nationwide producer of hitch accessories by January 1st, 2006 Consistently high quality to promote brand recognition Product available as an option on new vehicles worldwide Provide Distributor Franchises TL

  8. TIMELINE TL

  9. Product Plan - One Year Projection Universal Hitch Motorcycle Rack Storage Rack with removable rail Gas Can Rack Tail Light Kit LE

  10. Product Plan - Five Year Projection Golf Bag Rack Lockable Tool box Lumber Rack Winch Rack Barbecue Rack LE

  11. External Manufacturing Benchmarking Select process All Processes for most common product Identify leaders for each process Smaller Company = SPORTSRACK Collect Data Margin = 50%, Productivity = 80%, Efficiency = 90% Analyze Data Process vs. Process RR

  12. Plant Projection - 1 Year Manufacturing Systems ‘Little’ JIT - Schedule inventory, Ensure resources, followed by Kanban Mechanization CAD & CAM, Combine some operations Human Resources Five flexible operators Facility 50,000 sq.ft. 2/3 manufacturing. 1/3 warehouse RR

  13. Plant Projection - 3 Year Manufacturing Systems MRP begins Mechanization CIM - network computers and machines Human Resources Two Leads, Five flexible operators Facility 50,000 sq.ft. 2/3 manufacturing. 1/3 warehouse RR

  14. Plant Projection - 5 Year Manufacturing Systems ‘Big’ JIT - Eliminate all waste, MRPII Mechanization Some automatic loading and unloading Human Resources One supervisor, Three Leads, Seven flexible operators Facility 50,000 sq.ft. 3/4 manufacturing. 1/4 warehouse RR

  15. Router (Document #ROU001) for Universal Hitch FH-UHI-001

  16. Supply Chain Decision Operation Storage Transit Steel Mill Steel Vendor Coating Flexhitch Retailer Customer RR

  17. Supply Chain Continued Computerized order tracking Minimize ‘Bull-whip’ Effect Innovative Flexhitch products Higher Margins = Higher Instability Match a Responsive Supply Chain Mis-match an Efficient Supply Chain Outsourcing Material forming and cutting Coating and Plating RR

  18. Flexible Plant Layout with Flowchart 008 CELL 3 009 0010 007 006 CELL 4 CELL 2 005 004 003 002 CELL 5 CELL 1 001 OFFICES QUALITY ASSURANCE BASE WAREHOUSE INCOMING MATERIAL WAREHOUSE FINISHED GOODS RECEIVING DOCK SHIPPING DOCK

  19. Quality Goals Manufacture a high quality product Less than 1% customer returns in the first year Train employees to follow instructions & procedures Establish a Continuous Improvement team In process inspections Achieve ISO 9001 certification by April 31st, 2003 ISO Oversight Committee Implement Good Manufacturing Practices (GMP) Internal auditing BD

  20. Quality Organization

  21. Organization Structure

  22. Quality Manual Purpose Describe the policies & control structure of the Quality Management System used to achieve the mission at Flexhitch. Content Documents Flexhitch Processes Includes 20 sub-sections Follows ISO 9001 guidelines Continuous Improvement Work instructions and methods Application to Flexhitch Specific work procedures and instructions BD

  23. Work Procedures In process inspections at workstations Developed for Flexhitch Surface Coating Finish Dimensional Hole alignment Surface finish Joints Strength Additional procedures for each new product BD

  24. Quality Procedure for Surface Finish Color Test Alternate Color Test Method Adhesion General Appearance Solvent Resistance BD

  25. Future Quality Efforts Develop work procedures and checklists for each critical manufacturing process Continue to develop and modify working documents to achieve ISO certification Oversight Committee ensures focus on the continuous quality improvement process BD

  26. Promotional Objectives & Strategies 1. Greatest Challenge 1st Year: Lack of Market Awareness 2. Strategies for Enhancing Market Awareness A. Sales display at place of business B. Company website (on-line & B-to-B sales) C. Employees promotion D. Car & Truck Dealership E. Print Advertising F. Local Cable outlets RT

  27. Cash Flow Analysis – 1st Year 1. Total Operating Costs (rounded) $ 1,215,000 2. Financing A. Cost of borrowing 1.215M @ 8.1% $ 98,415 Total Costs of Operations $ 1,313,000 3. Operating Costs per Day (261 operating days) A. $ 1.313 million / 261 = $ 5,032 Average Capital Recovery ($5, 032 / 48 units = ) $ 105 Cost Per Item RT

  28. Rate of Return – 1st Year Average Capital Recovery Cost per Item$ 105.00 Average Capital Recovery Cost per Item + 18% Internal Rate of Return$ 123.00 RT

  29. Projected Productivity Schedule Year PPDay x DPM = PPMonth = Accum. % Increase 1 48 22 960 = N/A 2 62 22 1, 344 = 28.5 3 110 22 2, 419 = 44 5 219 22 4, 838 = 50 RT

  30. Cash Flow Analysis – 2nd Year 1. Total Operating Costs (rounded) $ 1,000,000 2. Financing A. Cost of borrowing 1.215M @ 8.1% $ 81,000 Total Costs of Operations $ 1,081,000 3. Operating Costs per Day (261 operating days) A. $ 1.081 million / 261 = $ 4,141 Average Capital Recovery ($4, 141 / 62 units = ) $ 67 Cost Per Item RT

  31. Rate of Return – 2nd Year Average Capital Recovery Cost per Item$ 67.00 Average Capital Recovery Cost per Item + 18% Internal Rate of Return$ 79.00 Internal Rate of Return if Prices are Unchanged$ 123.00 RT

  32. Cash Flow Analysis – 5th Year 1. Total Operating Costs (rounded) $ 1,000,000 2. Financing A. Cost of borrowing 1.215M @ 8.1% $ 81,000 Total Costs of Operations $ 1,081,000 3. Operating Costs per Day (261 operating days) A. $ 1.081 million / 261 = $ 4,141 Average Capital Recovery ($4, 141 / 219 units = ) $ 18 Cost Per Item RT

  33. Click here for more information… >> www.FleXhitch.com << FleXhitch498 Flexhitch WayLong Beach, CA 90000Phone: (562) 985 - FLEXFax: (562) 985 - 0000

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