dolution

Select a product-manufacturing company that you are familiar with.

(a) Explain four (4) types of measures that you think this particular company uses (or is most likely to use) to quantify the performance of the company. Provide an example for each measure selected. It is important that you contextualise your answers to this company and not give generic answers. (16 marks)

(b) Suppose this company receives an average order of 105 units of products per month. It takes 2 days to process and complete the order and that there are 30 days in a month. Apply Little’s Law to determine the average number of products that the company can process (work in progress). What can you conclude from this analysis? Discuss the advantages and limitations of using Little’s Law in your own words. (9 marks)