Production Strategy
Production & HR
“Production is about managing the flow of material and information from raw materials to finished good” (Allen, 2009). Production department schedules the number products our company will produce within the upcoming year. It is our strategy to start with the marketing forecast, subtracting an inventory left from last year and entering the differences in the production schedule. That would bee the $1,122- $87 = $1035 for the production schedule within our SIM. It is our vision and strategy to reflect three things: the demand by the customer, manufacturing capability, and storage capability throughout the decisions with the Production & HR section. (Capism, 2012)
It is our strategy to keep inventory levels low in order to remain competitive. Purchasing weekly instead of monthly does this. This strategy helps to cut back on the inventory costs. (McClure, 2012)
The customer demand is also taken accounted for as it determines how many products are produced, which then leads to the production capability requirements, which then determines the amount of raw goods need. Analyzing past reports of the current business and competitors can help to identify successes and failures within the production department.
Using this strategy we implemented it into practice rounds within our simulation for Team Digby.
Capacity is the number of units that can be manufactured in one year using a single eight-hour shift, you can produce up to twice that amount by running a second shift, but we will not be using that at this time. Our strategy is to sell capacity when possible and buy when needed. This then limits our production to the capacity. We will earn money through the sale of capacity as well. (Capism, 2012)
It is our vision to improve our production, capacity, and investment within production to help and play a large role in the entire organization. Allen, K. (2009). Launching new ventures: An entrepreneurial approach
. (5 ed.).
“Production is about managing the flow of material and information from raw materials to finished good” (Allen, 2009). Production department schedules the number products our company will produce within the upcoming year. It is our strategy to start with the marketing forecast, subtracting an inventory left from last year and entering the differences in the production schedule. That would bee the $1,122- $87 = $1035 for the production schedule within our SIM. It is our vision and strategy to reflect three things: the demand by the customer, manufacturing capability, and storage capability throughout the decisions with the Production & HR section. (Capism, 2012)
It is our strategy to keep inventory levels low in order to remain competitive. Purchasing weekly instead of monthly does this. This strategy helps to cut back on the inventory costs. (McClure, 2012)
The customer demand is also taken accounted for as it determines how many products are produced, which then leads to the production capability requirements, which then determines the amount of raw goods need. Analyzing past reports of the current business and competitors can help to identify successes and failures within the production department.
Using this strategy we implemented it into practice rounds within our simulation for Team Digby.
Capacity is the number of units that can be manufactured in one year using a single eight-hour shift, you can produce up to twice that amount by running a second shift, but we will not be using that at this time. Our strategy is to sell capacity when possible and buy when needed. This then limits our production to the capacity. We will earn money through the sale of capacity as well. (Capism, 2012)
It is our vision to improve our production, capacity, and investment within production to help and play a large role in the entire organization. Allen, K. (2009). Launching new ventures: An entrepreneurial approach
. (5 ed.).