Explain how principles of lean management could be applied to the introduction of the new product to account for adverse effects on cycle time.
Overview: The final project of this course will allow you to demonstrate your ability to analyze a company of your choice, one that is preparing to add a new product to its existing operation. You will be tasked with examining how the company is approaching the product introduction, and you will provide your insight into the new product launch. Prompt: For the final project, you will be tasked with identifying the manufacturing requirements, product feasibility, production constraints, profitability, and overall risk associated with introduction of a new product. For this milestone, you will analyze the facility layout of your selected company and propose how to best address production of the new product. Specifically, the following critical elements must be addressed: 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. Rubric Guidelines for Submission: Milestone Two must be 2 to 3 pages in length (plus a cover page and references) and written in APA format. Use double spacing, 12- point Times New Roman font, and one-inch margins. Include at least three references cited in APA format.