2. Minor defects can cause huge losses.
1. When we saw the task, there are number of choices. We can choose to focus on making only one type of books, or choose to make a few copies of every types. There are pros and cons, among all these choices. The steps we taken is first, list out all possible choices, and evaluate them in terms of risk and potential profits. And then make the decision. In the process, we thought of many different possibilities and considered a few keys. Such as whether it worth to bear higher risk to do Job C, and do we have confidence in making different types of books. If we are confident towards the job, sure we can overlook the risk and try to maximize the profit but doing Job C. However, none of us are very confident in doing the job because it requires different number of pages and different color paper to make the cover. Eventually we decide to go for Job A, as it is easy to do, and in the time repeating the job, the labor himself may become more familiar with the job and hence, rate of production may increase through out the production time. The potential profits can be greater than we consider the production is under linear rate. After decided what job is going to be done, we also need to predict how many copies we can make, and should we order more materials to make sure every seconds have some production or should we go order less materials so all of them can be utilized. It is a decision base on efficiency and effectiveness.
After all these process, we understood that planning make huge impacts on the outcome, and correct execution on planning is crucial in the production system.
2. In the laboratory, we have made a pretty plan, and the execution was perfect that all materials are utilized in the production within the time limit, and only 10 secs remained. We thought the result was going to be quite...