Product Manufacturing the Objective of Capstone Project

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However, there are changes in customer tastes, which influence steel demand. Moreover, the new technology is increasingly influencing the production of steel and many companies are gaining competitive edge using the latest technology in the steel manufacturing. Moreover, the cost cutting is another trends happening within the industry because organizations are increasingly source for high quality materials at lower costs to produce at low costs thereby offering the product at low prices in the market. More importantly, many steel companies have taken the advantages of internet technology to offer their products online. Using the internet method to offer products to consumers, many companies have been able to offer their products internationally.

Nucor Corporation and AK Steel are our primary competitors because the companies use the retail outlets to sale its products to both retailers and consumers. Moreover, in a steel industry, brand is a powerful tool that organizations employ to achieve competitive advantages.

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Thus, brand has become significant important in steel industry since consumers are increasingly more careful to spend their income carefully. To increase our steel production, our company will require sensor and instrumentation machine, which is an important cost saving instrument in the steel production. Apart from assisting our company in increasing the product, the new machine will also enhance agility of production, which will assist our company to save cost, increase productivity as well as improving overall quality of our product. Despite the overall benefits that our company stands to derive from sensor and instrumentation machine, there is a need to carry out a capital budgeting to determine whether purchasing of the equipment is profitable. The Net Present Value (NPV)….....

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