A Paper on Quality Assurance

Budgeting-Meeting production aims depends on the availability of financial resources. A production plan which is linked to a marketing plan oftenly uses sales projections as its budget. Provided that the revenue from sales is sustained, the production levels might be in line with goals of the firm. If revenues start to decline, then the production manager need to recalculate production requirements and change the plan to fit the changes into the budget (Mukherjee, & Kachwala, 2009).

Facilities Resources-Part of developing a production plan entails assessing facility resources to establish if the firm has the equipments to achieve production aims. Capital investments in newer equipment and new production locations is based on the needs established during production planning process.

Workers-staffs costs money, and which must be monitored to sustain production expenses. Production managers should project the required personnel levels wanted to achieve production aims on time and within the budget (Bozzo, 2011). Personnel management entails knowing the number of shifts needed and if additional cost of overtime is needed to finish the project on time.

Schedule-The production schedule entails getting a project finished within time to limit costs related to prolonged production cycles. The production schedule need to include internal and external factors. Internal factors are production rates, meeting production aims & using staffs effectively. External factors are: works by subcontractors and timely delivery by suppliers (Mukherjee, & Kachwala, 2009). The aim of schedule is to merge all internal and external resources to deliver the products on time.

The reputation of any firm is crucial to its survival. The trust and confidence of the consumer might have a direct and profound impact on the bottom-line of the organization. If companies have good reputation within the marketplace, consumers may have a preference for that firm even if there are other similar firms providing similar goods/services for different prices (Bozzo, 2011). The reputation of a business enables the company to differentiate its goods in highly competitive markets, allowing it to have premium pricing, and c become the ultimate factor when it comes to the consumers in deciding if to patronize one business over the other. Good reputation makes it possible for Stakeholders to support the organization during times of controversy.

Customers differ from one another in terms of their taste and preferences, customers who buy products in smaller quantities and large quantities, frequent and occasional customers and customers who visit the business premise and those who desire the products delivered to their homes.

Holding costs are the costs related to storing stocks which are unsold, and these costs constitute total inventory costs, together with ordering costs and shortage costs. Holding costs entails cost of goods damaged/spoiled, plus the cost of storage space, labor and insurance (Bozzo, 2011). Minimizing inventory costs is a crucial supply chain management strategy plus enables the company not to undergo financial losses and which might impact its overall bottom-line.

Simulation programs are very crucial since they offer a real life situation that require one to come up with solutions to handle that situation hence enabling one to become better at making decisions. Simulation programs enables one to note the kind of risks they might encounter, enables one to optimize what they have and control change. The application of skills helped me to maximize my abilities towards meeting the needs of the customer (Mukherjee, & Kachwala, 2009). This was in terms of enabling me to become flexible with regards to the changing tastes and preferences of the customers. Besides this, it enabled me to

References

Bozzo, P. (2011). Implementing quality assurance. Chicago: ASCP Press.

Mukherjee, P. N., & Kachwala, T. T. (2009). Operations management and productivity techniques. New Delhi: PHI Learning.

 

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