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Question: Using Case Study: Case 2-1 Spartan Heat Exchangers - What are the risks associated with cutting lead times from 14 weeks to six weeks?

31 Oct 2022,12:37 PM

 

Case Study: Case 2-1 Spartan Heat Exchangers

Purchasing Risk Management - Case Study 2-1 Spartan Heat Exchangers

1. What are the risks associated with cutting lead times from 14 weeks to six weeks?

2. What risk strategies should be used for some of the risks described in the answer to question 1?

3. What can we do to address these risks?

4. How should we prioritize our resources allocation plan to implement the actions described in the answer to question 3?

5. How can we evaluate if the actions described in the answer to question 3 were effective?

Expert answer

 

What are the risks associated with cutting lead times from 14 weeks to six weeks?

There are several risks associated with cutting lead times from 14 weeks to six weeks. One risk is that the quality of the finished product may suffer. When products are produced quickly, there is less time for quality control and inspection. This can lead to products that are not up to par with what the customer expects.

 

Another risk is that the company may not be able to meet its delivery deadlines. This can result in lost sales and damage to the company's reputation. In addition, if the company is not able to meet its delivery deadlines, it may incur penalties or fees from its customers.

 

Finally, when lead times are shortened, it can put a strain on the company's resources. This can lead to overtime for employees and increased costs for materials and other resources. All of these risks can have a negative impact on the company's bottom line.

 

To minimize these risks, companies need to carefully plan and prepare before cutting lead times. They should make sure that they have the necessary resources in place to meet the shorter deadlines. In addition, they should build in some buffer time to account for any unexpected delays or problems that may occur. By taking these steps, companies can help ensure that they are able to successfully meet their shorter lead times without sacrificing quality or incurring significant losses.

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