Reference no: EM133233021

Assignment:

Question 1

• Explain why it is vital for a pharmaceutical manufacturing firm to have a compelling new product development process.
• Clarify each product development stage related to an innovative pharmaceutical product that you are hoping to introduce and what tasks you would carry out in each product development stage to accomplish your plan

Question 2

Improving the reliability of equipment and facilities is quite essential for a smooth operation. Distinguish between breakdown and preventive maintenance to improve reliability. Discuss the trade-off between the two while considering total cost of maintenance versus maintenance commitment.

Question 3:

During COVID-19, the demand for household items was not consistent. It put pressure on retailers in relation to managing inventory level (Reorder point) of these items. At the same time the supply was quite uncertain for many reasons. All these led the retailors to everyday planning to determine inventory reorder point. At the same time they look for safety stock in order to maintain a higher service level.

Discuss the ROP considering four parameters such as daily demand, lead time, standard deviation of daily demand and service level (95%)

Question 4

Industry 4.0 era transformation has introduced many new technologies into manufacturing operations.

• How do you envision the impending automation will impact the internal operations of manufacturing plants?
• Argue the positives and trade-offs?

Question 5

The reasons for the failure in productivity are cost reduction programs, which produce narrowness of vision. We must first let go of old-fashioned productivity as a goal; instead, we must set a new but powerful objective of operations competitiveness (Skinner, 1986). Discuss this historic but seminal viewpoint.