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Essay / Research Paper Abstract
This 4-page paper provides a cost-benefit analysis for two alternatives to increase productivity for a fictitious company. Bibliography lists 1 source.
Page Count:
4 pages (~225 words per page)
File: AS43_MTtaylcost.doc
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Unformatted sample text from the term paper:
2) can reduce labor time and streamline processes and 3) cut costs and workmens comp claims. The obvious solution here is to improve the physical layout (currently, approximately 27% of
total labor time is wasted in walking the assembly line, simply to obtain the parts needed to accomplish tasks). But which option will be best? Lets pull together a cost-benefit
analysis and determine, from that, what our best option would be. A cost-benefit analysis, in its most basic form, analyzes the total anticipated
cost of a project compared to the total anticipated benefits (Plowman, 2011). If the benefits outweigh incurred costs of a particular alternative, then that alternative will be the best one
to use. To accurately assess benefits and costs, well first collect potential costs to be incurred, then well list anticipated benefits (Plowman, 2011).
Alternative 1 Alternative 2 Wasted Motion/ Walking 1% of total labor used 7% of total labor used Physical Lifting 12 pounds 23 pounds People Required
on Line 6 9 Productivity (per 8-hour shift) 392 288 Workers Comp Claims .3/year 1.9/year Capital Investment $1.3 million $967,000 Useful Equipment Life 7 5
Alternative 1 has the highest amount of cap-ex - Taylor would need to spend a little more than $300,000 to get this particular alternative into play. But
the suggestion here is that the first alternative is a better alternative for the following reasons. 1) Fewer hours spent in wasted motion.
With the first alternative, Taylor ends up decreasing wasted motion by 6%. This means more hours put into production rather than in wasted motion.
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