OPS 571 Week 6 Process Improvement Presentation,
- ISO Standards
- TQM Lean Production
- Six Sigma DMAIC
- Project Launch
- Project Goals
- Project Implementation Schedule
- Project Roles and Responsibilities
- MPS and Aggregated Demand
Process flow charts a visual representation of the process. It helps managers quickly identify gaps or possible places where bottlenecks may occur in the process. Squares represent tasks or operations, diamonds represent decisions, and upside down triangle represents waiting or storage areas (Jacobs & Chase, 2011).
Supply chains must be as efficient as possible. Products must be in place to meet customer demand at the right time. Timing is the most important factor in a supply chain. Eliminating a step in the supply means that parts or supplies will arrive a little faster thereby increasing efficiency.
Net Present Value calculations provide the value of future cash flows in today’s terms. This important because firms and investors have a limited amount and capital and need to understand which projects will provide the best Return on Investment (ROI) (Jacobs & Chase, 2011). A projects that results in a negative NPV should be rejected because it does not provide a return, while a project with a positive NPV should be further evaluated for net profit to determine if it the most feasible for acceptance.
ALL PPT ATTACHED !!!