Question

1. Discuss at least two actual standards numbers required for the plastic industry outsourcing (supply) chain

2.Give two examples of fast tracking to speed up a project

3.Discuss the ABC risk classifications

4.Give two examples of nurturing team member

Answer 1

1. Discuss at least two actual standards numbers required for the plastic industry outsourcing (supply) chain-

The standardS required for the plastic industry outsourcing (supply) chain

ISO 9001:2000 which highlights the demands and necessities of suppliers by fundamental business end-users such as movables, agriculture, instruments, sporting goods, industrial and various office products

Government/Defense and Aerospace.ISO 9001:2000 directs for industry-based experts such as the trainers and auditors. These standards are advised to be followed by both. Considering the plastic module, ISO 9000 is based on a four-layer model in which the first layer consists of the demand clauses of ISO 9001, second layer and third consists of the demands of plastic industry related to tooling, process services, and the material , and the last year provides the measurement details

2.Give two examples of fast tracking to speed up a project.

Answer- In project management, project work is split into several segments based on the kinds of work that needs to be finished. The fast-tracking method in project management is described as the way of reaching the purpose by practicing advanced ways of working. Here, all the segments operate concurrently to reach the result in the most precise and best achievable way. The two examples of fast-tracking to speed up a project are-

a)Parallel resource allocation-

         Here we need to first recognize the sequential and non-sequential activities in the project allocated. Then we need to figure out which activities can be implemented in parallel without affecting any other task. If two activities involve no interdependence, these activities can be performed by making them work in parallel with the help of several resources at the same time.

b)Make or buy analysis-

         In many cases, for example in the production and manufacturing of some particular piece of the machine takes a week, here we can reduce this time which is being allocated for the manufacture of that spare part by simply purchasing that part from an external source. This way we can outsource that particular task and can save time and accomplish the target in a shorter period.

3.Discuss the ABC risk classifications

ABC risk classification is a grading system that incorporates the process of naming and grouping of products. This grouping and naming is done on the grounds of how useful they prove to make the company reach its business target. This classification involves certain steps that need to be considered before classifying the products into the groups which are as follows-

1. Calculate the yearly count of items by the value per item to determine the yearly usage value for all products.
2. Prepare and record every product in decreasing order as per the product usage rate.
3. Sum up the usage value including the count of items.

Based on these evaluations and by using 80/20 rule, classification is categorized into three parts namely -

Group A-About 20% of the items record and value for 80 % of the annual usage value

Group B-About 30% of the items record and value for 15 % of the annual usage value

Group C-About 50% of the items record and value for 5 % of the annual usage value

4.Give two examples of nurturing team member

The two ways of nurturing team member –

1)Rewards and Recognition- Recognizing the workers makes them work better because they feel happy and contented after being compensated and appreciated for the work and contributions done by them. These rewards and recognitions can be in the form of bonuses, extra leaves, mail notifications from higher management.

2)Training-The representatives can be nurtured by providing them with certain work-related training and courses so they can groom and develop their skills for better career growth and development.