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Copy of Copy of Engineering Mangement: Case 2.2
Transcript of Copy of Copy of Engineering Mangement: Case 2.2
The FloRoll Manufacturing Company wants to start a new development for a low-cost version of florolls. Market information is currently sketchy, so the exact size of the market is uncertain. However, if the company does not enter this market soon, it is possible tat low-cost imports may come in, which could eventually cause them to lose market share. Should the company start the development work or wait for more market information? Is there an alternative for them to follow?
"Will the company start to develop and manufacture their
low-cost version of florolls despite the lack of market information?"
Courses of Action
The main objective of the company is to come up with a way that would be most effective to the corporation's benefit.
From the main problem of the company, we have broken it down to sub problems and solved it with corresponding goals.
Since the main problem of the company is lack of information for production, we solved the problem by doing the most efficient way to acquire information.
Case Study 2.2
Darwin Michael Bolaño
-> The company does not know the market size
-> The company does not know the exact market
-> If the company does not take action, there will
be low-cost imports that would come in
-> The company should find more information on the market.
-> The company should come up with a decision on the manufacturing
-> The company should not lose hold of market shares
The company should start a very quick strategic planning.
A very efficient solution addressed to the first sub problem is to have a
Ways of having a Survey:
-> A poll disseminated through the interwebs
-> Flyers distributed to people and having drop boxes for submitted suggestions
-> A random sampling of a large group of people.
The manager should make a group of people to implement the first task - surveying.
The tasks should be performed within the shortest possible time.
Results should be analyzed as soon as possible by another team organized by the manager.
After the results of the survey,
the company will decide about production,
There will be 2 general outcomes of the survey
1. The people responded positively to the proposed developed product.
2. The people responded negatively and suggests a different specification of it.
Basing on these results, the company's decision will vary.
1. Addressed to the positive response as majority of the survey, the company will proceed to production and manufacturing.
2. Addressed to the negative response as majority of the survey, the company will then re-develop and re-evaluate the product and start production based on the suggestions of the surveys.
Monitoring and Innovating
Since the company's market shares are now safe since they have started in production, the company should now monitor the quality of their products and the acceptance of the consumers as well as the supply and demand curve.
Adjustments will be made constantly depending on the demand to continue being effective and productive and avoid imports as competitors.
Through an efficient implementation, we solved the next problem of the company: losing their market shares to the imports.