cost benefit analysis
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After performing the cost benefit analysis on technology options, the leadership of Smitheford Pharmaceuticals has asked you to determine what other factors should influence their decision. Identify these other factors and provide your insight as to their importance. Do world-class organizations always select the higher technology option; why or why not?
Clearly state the importance of managing systems and processes in order to achieve effective and efficient production and operations.
Explain the concepts of forecasting, system design, capacity planning, quality management and control, supply chain management, inventory management and scheduling, and project management and how they each relate to form an integrated view of production and operations.
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After performing the cost benefit analysis on technology options, the leadership of Smitheford Pharmaceuticals has asked you to determine what other factors should influence their decision. Identify these other factors and provide your insight as to their importance. Do world-class organizations always select the higher technology option; why or why not?
There are several other factors that should influence technology decisions. The first factor is the impact of the technology on the product quality. For example, there are some technologies that substantially increase product quality. These should be adopted. Also, Smitheford Pharmaceuticals should consider if the adoption of new technology will lead to meeting the individual needs of the customers. From the perspective of workers, , Smitheford Pharmaceuticals should consider if the new technology leads to higher job satisfaction. It is important to consider if the new technology will increase the cost. Related to costs, is the training costs involved in using advanced technology. Costs and training costs are important factors in evaluating technology.
Smitheford Pharmaceuticals should consider if there are any deleterious effect of the new technology on the employees, surrounding area, or the customers. For example, a new medicine may have serious adverse effects on the users of the medicine. It should consider if new technology requires supplies that are difficult to get. Technology should be evaluated in light of the current business environment, and global ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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