Note 1: Show all your work to get credit! Write your solutions clearly and neatly.
Some Helpful YouTube Videos
Decision Trees: https://www.youtube.com/watch?v=jzoDKtnTPpg
Flowchart Diagram: https://www.youtube.com/watch?v=hN9xemJYwos
Create a Flowchart in Excel: https://www.youtube.com/watch?v=HSfYsmTVogw
Create a Flowchart in PowerPoint: https://www.youtube.com/watch?v=GsfZD4oU7l0
Create a Flowchart in Word: https://www.youtube.com/watch?v=hjhJ3-jSBM8
Fishbone Diagram: https://www.youtube.com/watch?v=JbRx5pw-efg
Pareto Chart: https://www.youtube.com/watch?v=gSy7KPfaA8g
Chapter 1: Read “Using Operations to Create Value at Crayola” on pages 29 & 30 of the textbook and answer the questions.
Create an assessment of Crayola’s competitive priorities and discuss opportunities and/or any challenges related to them as Crayola expands into Asian markets. Below is an example for the assessment of Crayola’s development speed competitive priority. You should add assessments of at least three other competitive priorities to the table. See Table 1.4 on page 16 of the textbook for a list of competitive priorities.
|Development Speed||New product time to market||First to the market with almost every innovation||This will create an opportunity as Crayola will quickly bring new products to the market based on customer preferences and its own innovative capability.|
You can access the video from “Multimedia Library” on MyOMLab’s website.
Supplement A: The demand for a customized knee implants continues to increase at a large orthopedic hospital. The management is evaluating three different alternatives to meet the increasing demand: purchase of one or two 3D printers and the related software or outsourcing to a manufacturer. A consultant’s report indicates a 0.20 probability that demand will be low, 0.50 probability that demand will be moderate, and 0.30 probability that demand will be high. Potential profits/losses for different demand levels are presented in the below table.
|Alternative||Payoff: Profit (in thousands) for Demand Levels|
|Buy One 3D Printer||– 20||75||100|
|Buy Two 3D Printers||– 40||65||135|
Chapter 2: Think of a process problem that you have experienced and submit your answers to the following questions about the process and the problem.
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