Practice Operations Simulation, management homework help

Practice Operations Simulation, management homework help

Create a 350-400 word analysis of the following;

Evaluate the team member’s results including the strategy selected for bidding on contracts including which factor was the most important: revenue, material, due date, or quality? How did the team decide on that priority?

Here is the information you will use to answer the question;

The team bid on contracts based on the reputation, the lower the reputation the easier it was to find bids, the higher the reputation, the harder the bid was to get accepted, because those companies wanted companies with more experience. Other strategies in bidding on contracts were the availability of the machines and whether I had to purchase them or not. Also the amount of time the company wanted the item done, in other words was the order large and the company wanted the item done fast, or was it a small order with a few weeks. If the order was small, I found it easy to bid on those contracts as it was easier to handle in the overall operations (receiving, production, and shipping).

The most important factor was revenue since the practice simulation required the student to have funds of $25,000 in the account in order to pass the scenario, so larger contracts were easier to make money faster.

Priority was decided on the amount of time the contract specified..so in other words if a contract was to make socks in 2 weeks and another contract wanted denim jeans in 5 weeks, then obviously the contract with a 2 week turnaround was set the highest priority.

The scenario and contracts revolved around manufacturing clothing (dresses, socks, shirts, etc). We had to make sure we had the right materials and the correct machinery and then ship the items in a timely manner while keeping a good budget.

Let me know if you have any questions. Thank you!