Problem:
After performing the cost benefit analysis on technology options, the leadership of Smitheford Pharmaceuticals has asked you to determine what other factors should influence their decision. Identify these other factors and provide your insight as to their importance. Do world-class organizations always select the higher technology option; why or why not?
Clearly state the importance of managing systems and processes in order to achieve effective and efficient production and operations.
Explain the concepts of forecasting, system design, capacity planning, quality management and control, supply chain management, inventory management and scheduling, and project management and how they each relate to form an integrated view of production and operations.