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Widget

In: Business and Management

Submitted By jmarquez
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Executive Summary Widget Production
ISCOM/305 Systems Operations Management
August 22, 2011
Mario Vaccari Executive Summary Widget Production Taylor Inc. is looking into improving the physical layout of the company in an effort to maximize productivity and reduced worker’s compensation claims. To do this management will need to analyze the current operations management process of the company and come up with two alternatives, which will help determine the best choice to maximize labor productivity for Taylor Inc. The cost-benefit matrix below will show which alternative management technique will maximize productivity with less worker’s compensation claims.
Cost Benefit Matrix Current Alternative One Alternative Two
Number of employees 17 6 9
Payroll costs per 8 hour day $5,848.00 $2,064.00 $3,096.00
Payroll costs per week $29,240.00 $10,320.00 $15,480.00
Payroll savings per week 0 $18,920.00 $13,760.00
Payroll costs per year (52 weeks) $1,520,480.00 $536,640.00 $804,960.00
Claims per year 4 0.3 1.9
Claims costs per year $436,000.00 $32,700.00 $207,100.00
Claims costs savings 0 $403,300.00 $228,900.00
Wages and claims per year $1,956,480.00 $569,340.00 $1,012,060.00
Wage and claims savings per year $0.00 $1,387,140.00 $944,420.00
Physical lifting in pounds 42 12 23
Capital expenditures $0.00 $1,300,000.00 $967,000.00
Cost difference in capital expenditures $1,300,000.00 0 $333,000.00
Outputs of finished widgets 208 392 288
Life in equipment 0 7 5
Wasted motion in % 27% 1% 7%
Effect of Alternative on Productivity Based on the above cost-benefit matrix, the best option for Taylor Inc. would be Alternative One. Although Alternative One is the more expensive management technique, it is more cost-effective over the course of seven years. Alternative One requires a capital investment of $1,300,000.00, which is $333,000.00 more than...

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