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In: Economics

1 Explain how customer complaints can be a source of new product idea (2 marks). Question...

1 Explain how customer complaints can be a source of new product idea .

Question 2 Using a phone’s battery to illustrate, explain how the mean time between failures (MTBF) can be used as a measure of a product’s reliability .

Question 3 Your firm is keen on ensuring that customer requirements are adequately captured as measurable design specifications. Recommend an appropriate quality improvement tool that can enable your firm to achieve this objective. (1 mark).

Question 4 State the fundamental objective that firms seek to achieve with project control .

Question 5 What advantage does the CPM/PERT has over the Gantt Chart scheduling tools? (1 mark). Question 6 Identify the product and service attributes which form the basis for the selection of a process type . Question 7 Give two critiques against the Optimal Quality Effort submission. Question 8 Propose two solutions to the Bullwhip effect in the supply chain. Question 9 Provide fives means in which productivity can be increased.

Solutions

Expert Solution

Answer 1 Customer complaint helps producer to identify demerits of product then those demerits are studied and by applying research and development producer manufacture new product with more features and by elimination those demerits identified by customer complaint.

Example: Iphone 7 , 7plus , 8 and 8 plus were having finger mounted home button but after many complaints related to malfunction of home button led to innovation of face lock feature in iphone X series onward apple models.

Answer 2 Product Reliability refers to probability that a device will perform its required function for specific period of time and MTBF is quantification of product reliability for repairable product. Eg: Phone battery that company ensures minimum 1 year warrenty as they know that battery will be having life of minimum 1-1.5 years. MTBF= T/R where T = total time and R = number of failures.

Answer 3 Plan-Do-Study-Act (PDSA)

Answer 4 1)  To Minimize the variance in costs.

2) To Schedule from what was originally planned as controlling project management  acts as a safety harness.


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