Reference no: EM133593922

Homework: Business Finance- Economics- Vice President of Operations

Overview

Scenario

As the vice president of operations, you have noticed that your organization's current operations strategy is not supporting the challenges that the organization is presently facing. In order to maintain a competitive edge, you must address these challenges with your chief executive officer immediately.

Select an existing production organization. Analyze the organization's current vision, mission, business strategy, operation strategy, supply chain, total quality management, just-in-time philosophy, forecasting method, statistical technique, facility location, work design, project life cycle, and project management.

Instructions

Using the production organization you selected, write a 6-8 page paper in which you:

Question I. Evaluate 2-4 weaknesses that are evident in the selected organization's product life cycle. Generate a new product design and product selection, and then determine three strategies that the organization needs in order to strengthen the operation. Provide support for the rationale.

Question II. Determine the key components of supply chain management for the company you have selected. Determine three major issues that could affect the structuring, sourcing, purchasing, and supply chain of your organization. Provide a solution to each issue.

Question III. Develop a total quality management tool that identifies and analyzes any future issues. Provide a rationale for developing the selected tool.

Question IV. Analyze three advantages of employing the just-in-time philosophy in your organization. Evaluate 3-5 potential impacts the philosophy will have on quality assurance. Provide specific examples to support your response.

Question V. Determine a qualitative and quantitative forecasting method for your operation. Next, create a table in which you identify the characteristics of the operation that relate to each method. Evaluate the strengths and weaknesses of each method.

The specific course learning outcome associated with this homework is:

I. Create a strategic plan that strengthens the operation's product life cycle and considers supply chain management, total quality management, the just-in-time philosophy, and includes a forecasting method.