...Widget Production Executive Summary Executive Summary Taylor Inc. manufactures widgets. The current assembly line for Widget X takes 27% of labor time, cost $43 per hour for 17 workers. The current physical workload lifting containers weigh 42 pounds. Due to injuries on the job, the average of four workers claim worker's compensation costing $109,000 annually. The current out-put for finished production is 208 widgets. Taylor Inc. is looking for ways to maximize production, reduce worker's compensation claims, and improve management techniques. Two alternatives have been proposed. Listed in Appendix A, a cost-benefit matrix compares the current and two alternatives. Listed in Appendix B, compares the current and alternative matrix from the total cost and saving of worker's compensation Claims, and annual wages reflecting all expenses. Appendix A | Current | Alternative 1 | Alternative 2 | Labor Time | 27% | 1% | 7% | Workers Assembly Line | 17 | 6 | 9 | Product Lifting (lbs.) | 42 | 12 | 23 | Productivity | 208 | 392 | 288 | Worker's Comp Claims | 4 | .3 | 1.9 | Equipment Life Expectancy | - | 7 | 5 | Capital Investment | - | $1.3 million | $967,000 | Appendix B | Current | Alternative 1 | Alternative 2 | Worker's Comp Claims | $109,000×4=$436,000 | $109,000×.3=$32,700 | $109,000×1.9=$207,100 | Wages Per Shift | $43×8×17=$5,848 | $43×8×6=$2,064 | $43×8×9=$3,096 | Annual Wages (hours, labors, days) | $43×8×17×260=$1,520,480 | 43×8÷6÷260=$536...
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...Widget Production Executive Summary Taylor, Inc. requires an analysis of its operations management process to maximize labor productivity. A key component for analysis is a cost-benefit matrix as noted below that outlines current processes compared to the anticipated outcomes for suggested alternatives. | Current | Alternative 1 | Alternative 2 | Wasted motions | 27% | 1% | 7% | Physical lifting | 42 pounds | 12 pounds | 23 pounds | People required | 17 | 6 | 9 | Productivity | 208 units | 392 units | 288 units | Productivity per person | 12.24 units | 65.33 units | 32.00 units | Workers’ compensation claims | 4 | 0.03 | 1.9 | Initial investment | | $1,300,000 | $967,000 | Life of equipment | | 7 years | 5 years | Cost per year | | $185,715 | $193,400 | Wages per year* | $1,520,480 | $536,640 | $804,960 | Cost of workers compensation claims** | $436,000 | $32,700 | $207,100 | Total wages and claims | $1,956,480 | $571,404 | 1,015,156 | Savings from current wages and claims*** | | $1,385,076 | $941,324 | *calculated at $43 per person at 2,080 hours per year **calculated at $109,000 per claim ***calculated by deducting alternative wages and claims from current total of wages and claims Recommended Action – Alternative 1 Alternative 1 appears to provide the best course of action. It reduces the workforce to six persons per eight hour shift yet increases productivity per person to 65.33 units compared with the 12.24 units per person currently...
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...Executive Summary Widget Production ISCOM/305 Systems Operations Management August 22, 2011 Mario Vaccari Executive Summary Widget Production Taylor Inc. is looking into improving the physical layout of the company in an effort to maximize productivity and reduced worker’s compensation claims. To do this management will need to analyze the current operations management process of the company and come up with two alternatives, which will help determine the best choice to maximize labor productivity for Taylor Inc. The cost-benefit matrix below will show which alternative management technique will maximize productivity with less worker’s compensation claims. Cost Benefit Matrix Current Alternative One Alternative Two Number of employees 17 6 9 Payroll costs per 8 hour day $5,848.00 $2,064.00 $3,096.00 Payroll costs per week $29,240.00 $10,320.00 $15,480.00 Payroll savings per week 0 $18,920.00 $13,760.00 Payroll costs per year (52 weeks) $1,520,480.00 $536,640.00 $804,960.00 Claims per year 4 0.3 1.9 Claims costs per year $436,000.00 $32,700.00 $207,100.00 Claims costs savings 0 $403,300.00 $228,900.00 Wages and claims per year $1,956,480.00 $569,340.00 $1,012,060.00 Wage and claims savings per year $0.00 $1,387,140.00 $944,420.00 Physical lifting in pounds 42 12 23 Capital expenditures $0.00 $1,300,000.00 $967,000.00 Cost difference in capital expenditures $1,300,000.00 0 $333,000.00 Outputs of finished widgets 208 392 288 Life in equipment 0 7 5 Wasted...
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...Ethics for Widget Tech Inc. 11/23/2009 David G. Montague | Summary Widget Tech Inc. is in need of update the company’s current code of ethics due to growth of the company and the changing workforce. Research has been conducted to revise the current policy and address topics that were previously overlooked. Widget Tech Inc. is a company that stresses both corporate and personal integrity. We not only comply with laws and applicable regulations; but we also strive to conduct our affairs according to the highest ethical standards. Employees are expected to be honest and forthright in dealings with managers, subordinates and with one another, as well as with clients, suppliers, government agencies and their employees, business partners and the general public. Widget Tech employees must maintain the highest level of personal integrity and encourage it in others; they must not lie, cheat, steal or do anything that would bring dishonor upon themselves or the company (SRA International, Inc. 2009). Review of Widget Tech Inc. Code of Ethics Table of Contents Summary……………………………………………………………………………………..………..2 Introduction……………………………………………………………………………….………..…3 How to Create a Code of Ethics………………………………………………..……....…3 Components of a Code of Ethics……………………………………………….……………4 Conclusion………………………………………………………………………………………….....5 Recommendation……………………………………………………….…………….…………….5 Sources………………………………………………………….………………….…………………….6 Introduction As Widget Tech Inc. expands...
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...732-930-3800 | | Email | rmoran@wint.net | Backup Contact | Name | Sabrenna Anderson | | Phone | 732-656-3575 | | Email | sanderson@wint.net | Proposal Type | Idea To Be Explored Potentially Identified Solution | Project Type | New Project Enhancement to Existing or Former Project | Working Title of Project | Infrastructure and Systems Implementation Plan | Project Sponsors | WInt IT department, Rosanne Moran, IT Director. | ------------------------------------------------- ------------------------------------------------- Introduction Widgets International, Inc. currently consists of Widgets USA, LLC and Widgets-R-Us, LTD. Combined Widgets International, Inc. has 50 years of experience in providing function critical assembly and machinery solutions. WUSA has cornered the Business to Business market while WRU has grown in leaps and bounds in the retail market. Together as Widgets International, Inc., they stand to increase their market share substantially by creating and offering innovative and cost effective assembly solutions globally. (Anderson, Unit1, 2014) ------------------------------------------------- ------------------------------------------------- Purpose and Justification This proposal will explore the requirements for the application and implementation of an easily manageable information system that will be an effective and efficient agent in expanding the organization internationally. To date we have considered the benefits...
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...relating to lean manufacturing or Toyota production system. 1.1 PURPOSE The purpose of this assignment will provide an opportunity to evaluate the content and quality of an article or situation. 1.2 DEFINITIONS Andon A visual management tool that highlights the status of operations in an area at a single glance and that signals whenever an abnormality occurs. An andon, which is the Japanese term for “lamp,” can indicate production status (for example, which machines are operating), an abnormality (for example, machine downtime, a quality problem, tooling faults, operator delays, and materials shortages), and needed actions, such as change overs. Five Whys The practice of asking why repeatedly whenever a problem is encountered in order to get beyond the obvious symptoms to discover the root cause. The specific number five is not the point. Rather it is to keep asking until the root cause is reached and eliminated. Heijunka Japanese technique of achieving even output flow by coordinated sequencing of very small production batches throughout the manufacturing line in a lean production or just in time (JIT) system. Jidoka Japanese term that provides machines and operators the ability to detect when an abnormal condition has occurred and immediately stop work. This enables operations to build in quality at each process and to separate men and machines for more efficient work. Jidoka is one of the two pillars of the Toyota Production System along with just-in-time. ...
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...between hours worked, productivity and the impact that is has on us for Written Communications class. This report covers the trends and statistics of working Americans and how it may affect productivity as a whole. It also discusses how the extra hours are affecting Americans health and family life, which in return affects the production This report contains information about how working extended hours can affect our lives in many ways; including our sleep, health, home life, children and production on the job. We are becoming working machines and not taking care of ourselves. I would like to extend thanks to Juliet B. Schor who is a professor at Harvard University. Julie wrote a book The Overworked American: The Unexpected Decline of Leisure (1991) and also to Alexander Kjerulf. Alex is the author of 3 books including the international bestseller Happy Hour is 9 to 5 – How to Love Your Job, Love Your Life and Kick Butt at Work. These two individuals had great online information available from their books that assisted me greatly in my research. If you have any further questions please feel free to contact me via email at quaintan5748@fvtc.edu. Executive Summary Some Americans view of productivity has lead to a vision about work, such as; if you work more hours you get more work done. I think this view a misconception. The extra hours of work can potentially be harmful to the employee. Just because you’re putting in more time, does that necessarily mean you’re getting more done...
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... Key Components What’s in a Business Plan? Templates are Everywhere • SCORE • Small Business Development Centers – many have seminars • Entrepreneur - Magazine and website • Software you can buy • Someone can write it for you J&C Safety Consultants 4 Key Components Generic Format Twelve Sections 1. 2. 3. 4. 5. 6. 7. Title Page Table of Contents Mission Statement Executive Summary Industry Status Target Market/Customer Base Sales and Marketing Plan J&C Safety Consultants 5 Key Components Generic Format Twelve Sections 8. Production and Operations Plan (if selling something) 9. Insurance 10. Management/HR Plan (only if employees or partners) 11. Financial Plan 12. Attached Exhibits J&C Safety Consultants 6 Key Components Mission Statement • Short but must be exact • Can be a variation of your slogan – slightly longer • Often used for marketing materials like brochures and websites • More than “we make the best widgets” – goal of safety is at a higher level J&C Safety Consultants 7 Key Components Executive Summary • Company history, qualifications of key personnel, general business goals • Makes the reader want to...
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...trouble is, the way the system is rigged, companies are getting huge subsidies to go where they would go anyway. Here’s a typical search process. A company of substantial size will usually hire a site location consultant to perform the research on new locations. If the company doesn’t use a consultant, it will assign lead duties to one of its divisions, usually real estate or finance. In either case, a management team will coordinate with the consultant or internal lead, providing input about what the company needs, from operations, sales, and other departments. The company—let’s call it Acme Widget—says to the consultant: to make widgets, we need a location that has plenty of workers who 47 know how to make widgets or who have comparable skills and can be readily trained. We also need a location with plenty of access to the main ingredients of widgets. And we don’t want to be far from our widget customers or from transportation systems to reach them. Business Basics: What Really Drives Site Location The factors that drive site location—access to key inputs, suppliers,...
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...e- Book Series Guide to Writing a Killer Marketing Plan Written by: Steven Fisher Purpose of this book You are either someone that has been doing marketing as a part of your professional career or you look at as that “thing you do to promote your business and attract customers to buy”. Regardless of where you are along that spectrum, you have arrived here because you have been charged by the CEO of the startup you work for to write a marketing plan for your business or you need to create one for your own business. You need to not just write just any marketing plan. You need to write a Killer Marketing Plan. One that your boss will say “awesome, let’s get started” and which will tell all those people who have been looking for a product or service like yours for a long time. This book is written for you. Marketing plans are sexy mistresses that tempt you to include all of the coolest of campaign ideas without the sanity of budgetary constraints. While marketing is one of the more important functions of a small business, it is one that is limited by the budgets of that business and campaigns must demonstrate a return in order to justify their existence. Since I have written more marketing plans than I care to tell you, I can share with you my knowledge and experience of what has worked almost all the time, some of the time and none of the time. While this is not the single tome on marketing plans, I hope that this helps you balance the unlimited creative...
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...THE MCKINSEY WAY This page intentionally left blank. THE MCKINSEY WAY Using the Techniques of the World’s Top Strategic Consultants to Help You and Your Business ETHAN M. RASIEL M C G R AW- H I L L NEW YORK CARACAS SAN FRANCISCO LISBON WA S H I N G T O N , D . C . MADRID AUCKLAND BOGOTÁ MILAN LONDON NEW DELHI TOKYO MEXICO CITY SINGAPORE MONTREAL SAN JUAN SYDNEY TORONTO McGraw-Hill abc Copyright © 1999 by Ethan M. Rasiel. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-136883-3 The material in this eBook also appears in the print version of this title: 0-07-053448-9. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com...
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...gni THE MCKINSEY WAY This page intentionally left blank. THE MCKINSEY WAY Using the Techniques of the World’s Top Strategic Consultants to Help You and Your Business ETHAN M. RASIEL M C G R AW- H I L L NEW YORK CARACAS SAN FRANCISCO LISBON WA S H I N G T O N , D . C . MADRID AUCKLAND BOGOTÁ MILAN LONDON NEW DELHI TOKYO MEXICO CITY SINGAPORE MONTREAL SAN JUAN SYDNEY TORONTO McGraw-Hill abc Copyright © 1999 by Ethan M. Rasiel. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-136883-3 The material in this eBook also appears in the print version of this title: 0-07-053448-9. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill...
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... |4 | | |Acknowledgement |5 | | | | | | | | | | | | | | | | | |I |Executive Summary |6-7 | | | | | | | | | |II |Research Design |8-31 | | | | | |...
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... |4 | | |Acknowledgement |5 | | | | | | | | | | | | | | | | | |I |Executive Summary |6-7 | | | | | | | | | |II |Research Design |8-31 | | |...
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...THE MCKINSEY WAY This page intentionally left blank. THE MCKINSEY WAY Using the Techniques of the World’s Top Strategic Consultants to Help You and Your Business ETHAN M. RASIEL M C G R AW- H I L L NEW YORK CARACAS SAN FRANCISCO LISBON WA S H I N G T O N , D . C . MADRID AUCKLAND BOGOTÁ MILAN LONDON NEW DELHI TOKYO MEXICO CITY SINGAPORE MONTREAL SAN JUAN SYDNEY TORONTO McGraw-Hill abc Copyright © 1999 by Ethan M. Rasiel. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-136883-3 The material in this eBook also appears in the print version of this title: 0-07-053448-9. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fash ion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales,...
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