Key Findings From Secondary Sources

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5.3 Key Findings from Secondary Sources Secondary Sources. Secondary sources included a literature review of the following material: • The NZ Treasury guide (The Treasury, 2015) for undertaking a cost benefit analysis was quite useful. Although not primarily designed for private enterprise use and not all parts of the guide were be relevant to this Hills Hat project, it was nevertheless very comprehensive and encouraged a whole-of-life analysis. • Operations Management, Edition 9, by Jay Heizer and Barry Render (Heizer & Render, 2008). This book provided a thorough examination of manufacturing operations and productivity and included a multitude of tools, techniques and worked examples that had some relevant to this project. • Hills…show more content…
This guide was too detailed for our purposes and aimed at the evaluation of much larger investment propositions, but it nevertheless fully acquainted us with the principles and processes of undertaking a cost benefit analysis. The benefits of a possible solution are summed, and then the costs associated with that solution are subtracted, were Value = Benefits – Cost. We did not attempt to put a dollar value on intangible items, such as the benefits and costs associated with employee stress, morale and motivation. However, we did appreciate that options that reduced overtime were likely to cause a drop in employee morale and thus cause a reduction in productivity as employees focus on their loss of overtime instead for making the products. • Operations Management by Heizer & Render. This secondary source of information helped us better understand manufacturing productivity, outsourcing, capacity planning, layout strategies, work measurement, inventory management and sampling. With regard inventory management we discussed with the stores person the tightrope walked between the cost of too little stock (raw materials, work-in-progress, and finished goods) and the cost of too much stock given that much of Hills Hats’ raw materials were imported. There were some
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