During the first three days of the week I worked on the project on Non mandatory spares. The data for it was collected last week so I started working on the model that can be used in order to find the cost that has been incurred on these non moving items by using all concepts of time value of money and inflation rate. I tried various things and derived numerous formulas but every time some mistake occur, but finally after trying a lot of things I was able to settle at one formula. Then there were meetings with my supervisor regarding this model, which led to modification of the model.
Then I started working on Six sigma project. It mostly included the learning about the engine, problems that is facing, some preventive measures that can be taken and the remedial solution. During the study I found that is the oil system which is causing most of the problems so I thought over the problem and provided them with an alternative solution.
After this I tried to found out the forecasting that is done at BRD. But to my surprise there was no effort put on this. So I suggested them the most simple and efficient forecasting methods that can be used to forecast the demand so that they know well in advance the exact requirement of material and man power required and thus can plan in accordance with that.
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