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The process redesign is actually the redesign of a manufacturing plant…
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The “cost of delay” is an important cost to consider when redesigning a process. In addition, there is uncertainty in identifying future requirements and new processes that the space will need too accommodate. How do you decide whether to make room for future and unknown processes? How do you determine the “cost of delay” for repositioning the process layout now?
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Solution Preview
How do you decide whether to make room for future and unknown processes?
In order to decide whether to make room for future and unknown processes that could arise in the future, one of the ways is to prepare a probability-impact matrix, outlining the key events that could occur in the future along with their respective probabilities of occuring and then defining the impact on the organization with respect to such events. …
