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Value-stream mapping at PlastiPharm is a once-a-year effort that is conducted by senior management at a high level. Because PlastiPharm produces more than 150 products, the value-stream maps are often obsolete before they are posted on the shop floor. The 3D production area has proposed to management that they analyze and create their own value-stream maps for the different products they make. Why is it a good idea for the 3D area to take over this task?

  • The 3D area understands better than management how they make the products, can best describe the process, and can then identify ways to improve.
  • Producing their own value-stream maps will allow the 3D area to determine what steps it will need to take to change in the future.
  • Creating their own value-stream maps will demonstrate that the 3D production employees are ready to take on additional responsibilities.
  • If the 3D area produces its own value-stream maps, they can better inform senior management about their contributions to the company.
 
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1. Which method do you think applies more to entrepreneurship, the innovative or adaptive problem-solving method? Do you see yourself as using one method more than the other in your entrepreneurial endeavors? If so, which one and why? 2. Do you think it is important for the entrepreneur to understand and develop all the problem- solving skills to manage a successful startup? Why or why not? 3. Which of the three types of entrepreneurs relies more on the innate skill of the entrepreneur ? 4. How does the fishbone process aid entrepreneurs in finding the root cause to problems worth solving?
 
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Case indicates that 97 rental requests arrived over a 26 week span. Assume no variation in rental times (i.e. the standard deviation of rental times is zero) and that inter-arrival times are exponentially distributed (i.e. the coefficient of variation is 1). Suppose REI has decided to set up a subscription-based rental ski business. In this model, customers pay a flat subscription fee on a monthly basis and can rent skis for one weekend at a time whenever they want at no additional charge. With this model REI is focused on ensuring sufficient inventory availability to their customers who subscribe. Assume the same data as discussed in the REI Rentals case.

•From exhibit 8 see that 97 requests came in over 26 weeks

Arrival rate is 97 requests/26 weeks (1/a) = 3.73 requests per week,

•Inter-arrival time (a) = 1/3.73 = .268 weeks/request

Assume everyone rents for one weekend, p = 1

Also, assume no variation in rental time (standard deviation)

Suppose they keep 3 pairs of skis in Salt Lake City. What is the probability one of their subscribers WILL be able to rent a pair of skis on a given weekend?

A. 78% B. 58% C. 88% D. 68%

What’s the smallest number of skis they would need to stock at Salt Lake City?

A. 8 B. 10 C. 7 D. 9

 
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PlastiPharm has several clients whose contracts require the company to store three to six months of raw materials for them just in case they require a quick turnaround for an order, something that rarely happens. As the contracts come up for renewal, PlastiPharm intends to renegotiate the contract terms to reduce or, ideally, eliminate the inventory clause. Why should PlastiPharm care about excess inventory?

  • Reducing inventory will allow the company to eliminate, or greatly reduce, problems with materials that might become obsolete while sitting on the shelf, thus reducing waste.
  • Managing and reducing inventory will help the company be better organized and allow them to focus on other areas to improve.
  • Making changes to the contract by eliminating the inventory clause demonstrates to the client that PlastiPharm is serious about its lean management processes.
  • Reducing inventory will provide needed storage space for other items that PlastiPharm needs to store in its warehouse.
 
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