Operations & Supply Chain Management Research Proposal

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4

(rezoning and building shopping center) = 0.7 times $4,000,000 + 0.3 times $5,000,000 = $4,300,000

The p (rezoning and building shopping center) is the best solution, with the expected return at 0.6 times $4,300,000 + 0.4 times $2,400,000= $3,540,000

This means that the expected net profit will be $540,000

Question 4 a) I am assuming that the greatest advantage of the work-in-process inventory is that the production is always associated and correlated with the supply of raw materials. By this, I mean that producing on stock, with larger quantities of products being manufactured without having necessarily an immediate demand or order for them will make the supply chain more efficient and will allow the company to produce at what is likely to be lower unit costs. It will also be using the labor factor more efficiently, because the workforce will not remain stagnated without clients, but will still produce, with these products being sold to clients in the future.

A b) However, on the other hand, the work in process inventory proposes high levels of inventory which increases both the overall costs for the company and the additional potential risks.

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In terms of costs, this is obvious: larger amounts of stock imply that the company needs to have larger storage areas, as well as additional labor and equipment to handle these stocks.

On the other hand, the risks with high levels of inventories are given by the fact that the company will not be as flexible to the demands on the market and some of these products may even go out of date, which will mean that the company is liable to lose money because it will have nobody else to sell it to on the open market. It is difficult to decide whether to go for the work in process or simply reduce inventory as much as possible and attempt the use of a just in time type of inventory management.

A b) i. alt 1: Production = Output/time = 10 projects/8 hours = 1.25

Alt 2: There will be 24 operations of data gathering and 16 operations of analysis, which means that there will be a total of 16 projects being completed in one day.

Production = 16 projects/8 = 2 ii......

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