Short answers About Statistic

1. "Business Processes" Please respond to the following:

· Per the textbook, to eliminate or reduce non-value-added work is a core step in improving profitability or efficiency of the business process. Give your opinion on whether or not you agree or disagree with this statement and include one (1) example of a business process which supports or criticizes the aforementioned statement to support your position. 

· Determine at least two (2) challenges in identifying Opportunity for Improvements (OFIs). Suggest at least one (1) strategy that business management can use to mitigate the challenges in question. Provide a rationale to support your suggestion. 

2. Use the data in the table in the file and answer the following questions in the space provided below:

1. What are the sources of value-added and non-value-added work in this process?
2. Where are the main opportunities to improve the cycle time of this process, with respect to both actual time used and the potential best times? What strategy would you use?
3. Step 10: Resolve Open Issues required 104 hours (potential) versus 106 hours (actual). Is there an OFI here? Why or why not? If so, how would you attack it?
4. What do you think are the most difficult critical issues to deal with when designing a sound cycle time study such as this one?