Reference no: EM13882725

Individual Project

You will be creating an overall operations and supply chain plan (6 months to 2 years- short and medium term) based on a product that received funding by one (or more) of the "sharks" in the hit reality show Shark Tanks (https://abc.go.com/shows/shark-tank)

You can choose any episodes that are available at ABC site, or at You Tube (for example, https://www.youtube.com/watch?v=8mB6lPiel38) that received funding from shark(s).

As the finances are now in place, you are responsible for executing (Sales and Operations) the new business. You have been hired to lead the company by the owners (founders, and sharks).

Here are the major questions that your proposal should address,

What products did the sharks invest in? Why?

What was the valuation of the product and company? How much fund is available now? Take into consideration of the total available fund, ownership, royalty fee.

Detailed plan of product/service: Apply concepts/tool of operations and supply chain management that you learnt from this course.

- How much would it cost to manufacture this product? What are the operational (fixed and variable costs)?

• Office space/warehouse/factory rental
• Utility costs (electricity/water)
• Product costs
• Labor
• Advertising

- How much would you sell it for? (Would people pay this price? How many buyers do you estimate?) (online research on the industry can provide some meaningful data)

- What do you expect your profits to be?

• Who are your target consumers?

- Who could be your competition, and why can they be better?

- What startup costs would you incur? (remember there is only so much you can spend)

Calculate the breakeven point: Forecast your sales and inventory requirements. Identify your target markets and customers. Provide any information to support your sales forecast/trend.

Outline your sourcing, manufacturing, distribution, and sales plan. Make any reasonable assumptions.

For any business, managing cash flow is very important to stay afloat. Sales are important, but focus should be on profit margins. Efficiency and Inventory management plays key role in managing cash flows.

Discuss important operations and supply chain performance measures critical to the survival and growth of this business. What are the quality attributes you would like control and manage?

General Guidelines to Prepare the Report:

• Length of Report: 8- 10 pages
• Write brief paragraphs along the topics/ sub-topics
• Do not define any concept in your report, instead apply and analyze
• Use table/ charts when appropriate