Specifically, the following critical elements must be addressed: I. Overview: Provide a concise overview of the company you have selected. Frame your analysis by including pertinent information about...

Specifically, the following critical elements must be addressed:
I. Overview: Provide a concise overview of the company you have selected. Frame your analysis by including pertinent information about the company’s
new product launch.
II. Production Needs: In this part of the project, you will analyze your selected company’s facility layout and propose how to best address production of the
new product.
A. Estimate the process cycle time for the new product introduction and compare against estimated takt time.
B. Determine process bottlenecks that may adversely affect cycle time of the new product introduction.
C. Explain how principles of lean management could be applied to the introduction of the new product to account for adverse effects on cycle time.
D. Recommend an appropriate strategy aligned with principles of lean management that the company could implement to improve cycle time of
the new product introduction.
E. Assess the labor, equipment, and material needs of the company that would be required to support the new product introduction.
F. Propose a labor, equipment, and materials plan to support the new product introduction that could be implemented by the company.
G. Explain how your proposed labor, equipment, and materials plan will support the new product introduction.
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III. Risk and Financial Impact: In this part of the project, you will analyze your selected company and offer guidance as to how to address potential risk
factors associated with the introduction of its new product and what the overall financial impact of the new product will be on the company.
A. Identify potential risks to the company associated with the new product introduction.
B. Develop a risk mitigation plan to address the previously identified risks associated with the introduction of the new product.
C. Explain how your proposed risk mitigation plan will account for and address the previously identified risks.
IV. Management Strategies: In this part of the project, you will analyze your selected company and offer guidance as to how to form and appropriately
manage the launch of a new product as well as the team that will be involved with the launch of the new product.
A. Describe the key aspects and characteristics of the team that you would build to support introduction of the new product.
B. Select the stakeholder from the company that you would include on a cross-functional team to support the introduction of the new product.
C. Explain how your proposed team is cross-functional and how that assists them in supporting the introduction of the new product.
D. Develop a strategy you would use to manage the cross-functional team tasked with supporting the introduction of the new product.
E. Explain how you could apply principles of total quality management (TQM) in managing the product introduction.
F. Describe how you could utilize the total quality management (TQM) approach for fulfilling customer expectations associated with the new
product.
G. Explain how each department in the company would approach assessing customer expectations of the product.