Jct2 Task 1 Essay

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JCT2 Task 1 RIE Tech Analytical Report The first four quarters of the simulation went well. Two original computers were designed to meet the needs of customers in two market segments. As feedback was reviewed regarding customer requirements, three modified computers were designed. The fourth quarter of the simulation ended with a substantial profit and a positive cash balance. As decisions were made regarding expenses in the simulation, I documented each expense amount in a journal. I was able to keep a running total of expenses versus my cash on hand. I could have budgeted my expenses better, as I seemed to have leaned more towards a conservative side when it came to spending business money. The pro-forma statements were very helpful. They gave a good estimate of how my decisions would affect business performance for the upcoming quarter. I was able to look at the pro-forma statements and make adjustments in my decisions before moving into the next quarter. For example, in quarter 2, I had decided to not add another sales site due to not having enough cash on hand. After looking over the pro-forma statements, I realized that I would have enough money to add another location for the next quarter and still have more than $300,000 cash left over at the end of the quarter. Operating efficiency was improved using just-in-time and lean operations techniques. I used sales predictions to estimate how many units a sales person would be able to sell each day. This number determined how many units were to be produced each day. Therefore, limiting the number of inventory left over at the end of the quarter, and in turn eliminating waste. I also used marketing surveys to determine what customers wanted in the products RIE Tech was producing. Computers were produced to match customer requirements so that the product would be desirable, and customers would

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