Chapter 5 Strategic Capacity Planning Slides prepared by Laurel Donaldson Douglas College Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives LO 1 Define capacity, explain the importance of long-term capacity, know how to measure capacity and understand two related performance measures, and describe factors influencing effective capacity. LO 2 Describe the strategic capacity planning process in organizations, know how to forecast demand and calculate capacity requirements, and discuss major considerations for developing capacity alternatives, LO 3 Describe the break-even analysis approach for evaluating capacity alternatives, and use it to solve problems. Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 2 Chapter Outline What is capacity? Measuring capacity Factors influencing capacity Developing capacity alternatives Evaluating alternatives Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 3 What is capacity? Capacity is the upper limit on the load that an operating unit can handle. The basic questions in capacity handling are: What kind of capacity is needed? How much is needed? When is it needed? Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 4 Importance of Long-Term Capacity Impacts ability to meet future demands Affects operating costs Major determinant of initial costs Involves long-term commitment Affects competitiveness Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 5 Measuring capacity Design capacity maximum obtainable output under ideal conditions Effective capacity Maximum capacity given delays, product mix, scheduling difficulties, and other realities. Actual output rate of output actually achieved—cannot exceed effective capacity. Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 6 Common Measures of Capacity Business Inputs Auto manufacturing Steel mill Oil refinery Farming Restaurant Theatre Retail sales Barrels of crude oil used per day Number of acres Number of tables, number of seats Number of seats Square metres of floor space, sales per sq. ft. Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Outputs Number of cars per shift Tonnes of steel per day Barrels of gasoline per day Bushels of grain per acres per year, litres of milk per day Number of meals / day Number of tickets sold per day Revenue generated per day 7 Efficiency and Utilization Actual Output Efficiency Effective Capacity Actual Output Utilizatio n Design Capacity Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 8 Efficiency/Utilization Example Design capacity = 50 trucks/day Effective capacity = 40 trucks/day Actual output = 36 units/day Actual Output 36 units day Efficiency 90% Effective Capacity 40units/day Actual Output 36 units day Utilizatio n 72% Design Capacity 50units/day Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 9 Example: Capacity Actual production last week = 32,000 units Effective capacity = 35,000 units Design capacity = 250 units per hour Factory operates 7 days/week, 3 - 8 hour shifts Design capacity = (7 x 3 x 8) x (250) = 42,000 units What is the design capacity for one week? Calculate the efficiency and utilization rates. Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 10 Example: Capacity Actual production last week = 32,000 units Effective capacity = 35,000 units Design capacity = 250 units per hour Factory operates 7 days/week, 3 - 8 hour shifts Design capacity = (7 x 3 x 8) x (250) = 42,000 units Utilization = 32,000/42,000 = 76.2% Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 11 Example: Capacity Actual production last week = 32,000 units Effective capacity = 35,000 units Design capacity = 250 units per hour Factory operates 7 days/week, 3 - 8 hour shifts Design capacity = (7 x 3 x 8) x (250) = 42,000 units Utilization = 32,000/42,000 = 76.2% Efficiency = 32,000/35,000 = 91.4% Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 12 Factors Influencing Capacity Facilities Floor space, layout Products or services Limited menu in a restaurant Human Training, skills and experience Planning and Operational No of shifts per day, inventory, quality control External Pollution standards, paper work Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 13 Factors Influencing Capacity Facilities Products or services Planning and Operational Human External Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 14 Capacity planning process 1. Forecast demand one to five years ahead 2. Determine capacity requirements 3. Measure the capacity now and decide how to bridge the gap a) Generate feasible alternatives b) Evaluate alternatives considering economic and non economic aspects Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. c) Choose the best alternative and implement it 15 0 Growth Volume Volume Some Possible Growth Patterns Time 0 Decline Time Cyclical Volume Volume 0 Stable Time 0 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Time 16 Calculating Capacity Requirements A department works one eight hour shift, 250 days a year, and has these figures for products, their demand, and usage of a type of machine that is currently being considered. How many machines would be needed to handle the required volume? Product Annual Demand Standard Processing time per unit (hr.) Processing time needed (hr.) #1 400 5.0 2,000 #2 300 8.0 2,400 #3 700 2.0 1,400 8 250 2,000 machine hours per year 2,000 2,400 1,400 2.9 machines 2,000 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 17 Developing Capacity Alternatives Design flexibility into systems Differentiate between new and mature products Take a “big picture” approach to capacity changes Prepare to deal with capacity “chunks” Attempt to smooth out capacity requirements Use capacity cushion Identify the optimal operating level Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 18 Optimal operating level Average cost per unit Minimum cost & optimal operating rate are functions of size of production unit. 0 Small plant Medium plant Large plant Output rate Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 19 Economies and Diseconomies of Scale Average cost per unit What makes the unit cost increase? Large Facility Small Facility Medium Facility Economies of scale Best operating level Diseconomies of scale Best operating level Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Best operating level Output rate 20 Economies and Diseconomies of Scale Economies of scale Fixed costs (facilities, equipment, management) spread out over more units Volume purchase discounts Diseconomies of scale Worker fatigue, equipment breakdown, less room for error, difficulties in coordination Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 21 Evaluating alternatives Economic considerations Cost, useful life, compatibility, revenue Non economic considerations Public opinion, reactions from employees, community pressure Techniques used for evaluation: a) Break Even Analysis b) Payback Period c) Net Present Value Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 22 Break Even Analysis TC FC VC VC Q v TR Q r P TR TC Q r FC Q v QBEP FC r v TC Total Cost FC Total Fixed Cost VC Total Variable Cost TR Total Revenue v variable cost per unit r revenue per unit Q volume of output QBEP break even volum e P profit Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 23 Break-Even Analysis Total revenue Total cost Amount ($) Break-even point Total revenue = Total cost Variable cost Fixed cost Q (quantity in units) Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 24 Example: Break-Even Fixed costs = $40,000 Labour costs = $3/unit FC QBEP = R - VC = Material = $1.50/unit Selling price = $10.00 per unit $40,000 10.00 - (3 +1.50) Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. = 7273 25 Example: Break-even Analysis The school cafeteria can make pizza for about $.30 per slice. Cost for kitchen and labour is $200 per day The nearby Pizza Den delivers for $9.00 per pizza (8 slices) Cost for labour reduced to $75 per day Make or Buy? Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 26 Break-Even Problem with Step Fixed Costs $ 3 machines 2 machines 1 machine Quantity Step fixed costs and variable costs. Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 27 Multiple Break-Even Points BEP3 $ BEP2 TC TC 3 TC 2 1 Quantity Multiple break-even points Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 28 Assumptions of Break Even Analysis One product is involved Everything produced can be sold Variable cost per unit is the same regardless of volume Fixed costs do not change with volume Revenue per unit constant with volume Revenue per unit exceeds variable cost per unit Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 29 Further Financial Analysis Cash Flow (cash received from sales and other sources) -- (cash outflow for labour, material, overhead, taxes) Present Value the sum, in current value, of all future cash flows of an investment proposal. most used methods of financial analysis: Payback period Net present value (NPV) Internal rate of return (IRR) Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 30 What is Capacity? Capacity usually refers to the upper limit of: A) inventories B) demand C) supplies D) rate of output E) finances Ans: D Page: 141 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 31 What is capacity? Capacity decisions are mostly long term decisions. Ans: False Page: 141 Stating capacity in dollar amounts generally results in a consistent measure of capacity. Ans: False Page: 142 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 32 Capacity performance The maximum possible output given a product mix, scheduling difficulties, quality factors, and so on, is: A) utilization B) design capacity C) efficiency D) effective capacity E) available capacity Ans: D Page: 142 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 33 Capacity Performance Efficiency is defined as the ratio of: A) actual output to effective capacity B) actual output to design capacity C) design capacity to effective capacity D) effective capacity to actual output E) design capacity to actual output Ans: A Page: 143 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 34 Capacity Performance Utilization is defined as the ratio of: A) actual output to effective capacity B) actual output to design capacity C) design capacity to effective capacity D) effective capacity to actual output E) design capacity to actual output Ans: B Page: 143 Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 35 Learning Checklist Define capacity and identify some common ways it is measured. Distinguish between efficiency and utilization and be able to calculate them. Describe factors that influence effective capacity. Describe the steps of the strategic capacity planning process. Discuss major considerations for developing capacity alternatives. Use break-even analysis to solve problems. Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 36