Question

Entrepreneurs are generally not manufacturing whizzes. They are often focused on getting a new idea into a product and that product to market. And although they acknowledge the importance of manufacturing, their heart is often not in it. They cannot provide the leadership required to manage a modern manufacturing process. They expect to compete primarily by outrunning their opposition, not not be out manufacturing them. In the Oil & Gas business, wildcatting for new fields is the equivalent. It has been said of some oil company's management that they are never really happy unless they have oil on their boots. Refining, transporting, etc. is not their top priority.

At some point, it is common for an entrepreneur to sell the business and retire, or move on to other things. Suppose you or your company were to purchase such a business, how would you create a modern production process? What factors would you look at for manufacturing or service savings? Considering the text description of Lean Operations to guide your thinking.

Answer 1

Answer: First dall, we would Analyze the current production process and Mapit, to get on Idea where are the main Arcas d oppurtunity we will look into Successful Componics on the some categories of ours and we will Replicate their Best Manufactuur practices and we will implement them and constantly Reviewing them until Col reach our goal. The Factors that we would look for Saving: - Rach Materials: we need to look for good quality and good price Suppliers: meed to evaluate our current Suppliers and if there is another one is the market that provides a better price and service we might change it. Labor Hond: We need to make sure all the employees Are performing their gob as they are suppose to, mimimize Work Aroidence Transportation Are we using our own equipment or is cheaper to wea carrier, we med to evaluate that