The paper "Total Quality Management in Engineering Operations " is a good example of management coursework. Engineering operations require precision and organization and this is achieved through calculated formulae to establish deviations in operations and optimal performance. In the contemporary engineering world, competition is increasingly intensive in both the traditional and modern industries, the number of small and medium enterprises (SMEs) in the present economic structure of the nations’ had been largely increased, which brought both the inspirations for all the businesses and the threats for their competition with the other competitors in the marketplace. Following the generic competition theory, businesses can either win the competition through cost leadership and differentiation, and the idea of total quality management (TQM) is actually benefiting both aspects of strategies for the businesses in the market.
TQM, as a concept that nearly covered all the different aspects of the businesses, are now making the businesses more able to provide lower prices whilst higher qualities of products and services, which are the efforts of all the employees in the organisations. With the ultimate aim of increasing engineering operations and customers’ perceived values from the products and services they have purchased, TQM in engineering attracts a lot of businesses’ attention in the contemporary date. Industrial Soap Company The process of soap production was in statistical control because the mean weight was added to the soap will give clients more quantity for their money.
This is good for operations of the business and is complements it in terms of operation time and procedures (Giffin, 1971). b) Values obtained for Cp=0.81 and Cpk=0.60 for the initial capability study. Cp= Cpk= Mean of the five sample bars Improvements were made on the adjustments made to improve the mean to 166 grams of soap inclusive of the tag.
This gives a standard weight for the soap and is in line with operational procedures. The Total Quality Management plan mentioned above is also an improvement. c) Improvements The Cp=0.85 and Cpk=0.6 progress of deviation allowed for the better production of the soap. The company decided to adjust the centre to the mean to get better results in operations. This was managed by increasing the quality of products and quantity to get a better competitive advantage in the market.
The sampling process allowed the production and operations to pick samples with credible quality and compromise on the price (Heizer and Render, 2001). d) Recalculations Cp=0.75 and Cpk=0.55 for the dropped mean at 166 grams. This allows for a lower deviation and more quality production at a lower price. The gram increase is higher giving the end-user a better quality product (Giffin, 1971) Q2) TS Henderson NVP Capital budgeting techniques enhance decision making by the investor in that he can predict the outcomes (cashflows) with some level of certainty. The most superior and preferred technique is the Net Present Value (NPV) method since it takes into account the future value of money (discounts cashflows).
It, in addition, enhances the evaluation of annuities as well as another form of cashflows. The discount rate is 12% Net Present Value of the organization’ s assets.
Daniels, J. and Radebaugh, L. (1995). International business. Reading, Mass.: Addison-Wesley.
Giffin, W. (1971). Introduction to operations engineering. Homewood, Ill.: R.D. Irwin.
Heizer, J. and Render, B. (2001). Operations management. Upper Saddle River, N.J.: Prentice Hall.
Slack, N., Chambers, S. and Johnston, R. (2010). Operations management. Harlow, England: Financial Times Prentice Hall.