Identify a preliminary set of tangible and intangible costs you think would occur for this project and the system it describes. What intangible benefits do you anticipate for the system? The tangible cost of building this system are the resources needed to finish the project (The right human technical skills, equipment, hardware, software,). The intangible cost are potential problems that might occur, unexpexcted delays, and mistakes that might occur. The intangible benefits that I anticipate for this system are making work less stressful on the users allowing them to perform better and create a more coordinated and easier way to obtain information.
Performance standards are the results that are expected for performance to be satisfactory or successful. Performance standards can be stated in terms of time, cost, sales, and quality control. The performance standards that should be put in place to ensure the effectiveness of the operation should be the levels of sales, the inventory turnover, what customer are buying and not buying, and tracking of purchases. Performance standards should be set so they are attainable, measurable, specific, realistic, observable, and
Work in a business environment Unit 203 - Sustainability Unit purpose and aim This unit is about being able to behave, and make contributions to work tasks and procedures, in a business environment, in ways that support diversity, security and confidentiality at work, reduction of waste and improve efficiency. Assessment Criteria 3.1 Explain the purpose of keeping waste to a minimum The purpose of keeping waste to a minumum is so the work place is efficient and clean making it become a more cost-effective and economically sound business. This leads to less paper usage, ink costs and again leading to a more enviromentally friendly organization. 3.2 Describe the main causes of waste that may occur in a business environment The main causes of waste that may occur in a business enviroment are over-printing, printing from online sources in colour, touching printed out pages (hard copies) before waiting for them to dry, spelling mistakes, printing e-mails, using new binders or box files, prinitng hard copies instead of draft documents, over-printing document amounts. 3.3 Describe ways of keeping waste to a minimum Ways to keep waste to a minimum include using both sides of paper and spell checking all documents before printing.
Pyrex Case Study 1. What are the pros and cons of continuing production at the Charleroi plant? Answer: Pros: * Top level product quality is assured. Manufacturing processes are under close monitoring. * Convenient logistics and short delivery time lead to quick market response, lower inventory and higher customer satisfaction.
The switch is easy and cost-efficient. c. the ratio of fixed to variable costs is high: Inventec has to reduce prices to utilize installed capacity. (e.g. its new manufacturing compound in Pudong, Shanghai) d. OEMs own the distribution channel and make the rules. 2.
Proposing a new variable pay scale, will affect how the employees are performing, sales, profitability, attrition, as well as the overall well-being of the store. By using this approach the team could prioritize the individual changes that could most improve the situation. Also, using the Optimizing technique, the decision made will hopefully achieve the best possible balance among the several problems that need to be addressed. Using this technique could potentially achieve the best balance between employee satisfaction, addressing local laws, and ultimately improving sales through product mix and slow moving
Also, a low profit margin decreases the price they proposed. For Union Stamping, a low indirect cost of manufacturing, benefit from high company productivity and management efficiency might be the key factor of low price. In conclusion to my cost analysis, I will give a recommendation of which price to take would be fair and reasonable to both Frich Turbo and the supplier, with consideration of their pros and cons. Then, I will explain the steps of implementing and ways of monitoring. ISSUE IDENTIFIED Mr. Fingold, from Frich Turbo Engine Company was in the process of purchasing a replacement valve.
On the other hand, this management team had a specific goal of reducing waste and achieved it by using correct actions. These two aspects were the key to the whole project. Initially, the management team used the general approach Lean Dynamics took with the Gap Analysis and Improvement Process. With this approach, the company could specify value and identify the opportunities in throughput, work of flow, and maintenance. After the team found out the disadvantages and non-value-added actions within processes, they knew where to improve.
Case study 1 A Centralized Structure Transforms Home Depot Q 1. In what ways can (a) decentralizing and (b) centralizing authority help an organization like Home Depot to improve its performance? Answer: The home depot case depicts a clear picture of how modification of an organization structure is essential for its success in highly competitive environment. The importance of decentralizing or centralizing authority in improving the performance of an organization is discussed below:- (a) Decentralizing – The decentralized structure of an organization, which the home depot previously was, helps to take advantage of division of labor by sharing decision making across the organization. It also empowers and allows them to improve their performance by being able to act to improve deficient or inefficient areas immediately without approval from the top of the organization.
Colander (2010) explains the role of the firm in production and how firms strive to maximize profits through maximizing productivity and minimizing costs. Reality indicates firms predominantly operate smoothest when firms find the most efficient balance between productivity and cost. To accomplish this firms make short run and long run decisions. Long run decisions include consideration of all possible techniques because all factors of production are variable. In contrast, short run decisions include constraints because fewer factors of production are variable (Colander, 2010).