Solution Pro: Week 4
1. Explore how a firm determines the optimal scale of a plant for a given rate of output and why this determination relates to longer-run strategies versus current operations. Also, discuss the differences between economies of scale and economies of scope and how firms can benefit from each. Then, provide a specific company example of economics of scale or economics of scope and how it affects production and cost or how technology affects the inputs and costs. Conduct research and use specific examples.
2. Think of an example of the principal-agent that you experienced first-hand or read or heard about. What factors led to the problem? Were there serious adverse outcomes arising from the problem?
3. One of the most important activities in supply chain design is selection of suppliers. Discuss what criteria (other than price) might be used to select the suppliers.
4. Go to BusinessBalls.com. Under “quality process improvement tools and techniques” and review all of the tools and techniques for process evaluation and improvement. Select one tool or technique and discuss how you would use it to analyze and improve a manufacturing or service process in an actual application. Provide specific examples from your current or previous work experience. Below is the link for the assignment.
