planning

787 Dreamliner Debut…finally a dream come true?

Posted on by f1224srokicki

Inside the Boeing 787 Dreamliner with CEO Jeff Smisek (video)

After years of production delays and costs overruns, November 4 marked the date for the historic use of the Boeing Dreamliner to finally take flight in North America. With suppliers located all over the world in a large-scale collaboration, delays should have been expected. Originally planned for its first flight in August 2007, problems with excess weight and manufacturing and other problems caused for five delays and the first model was delivered in September 2011. The first commercial flight service was on October 26, 2011. Orders for the plane came in before initial production and these delays have caused many unhappy customers and calls for compensation.

It’s amazing that even with all of the delays, many airline companies have still continued to place orders. This extraordinary airplane has promised features that will supposedly astound not only its passengers but its flight crew and potential customers as well. With Boeing finally delivering on this exulted and greatly advertised product, will this plane meet its high expectations?For many of the people on this historic flight, the answer is yes.

United Airlines is the first airline in North America to operate the use of the Dreamliner with a commercial flight from the George Bush International Airport in Houston to O’Hare Airport in Chicago. United Airlines celebrated this historic event with a ceremonial ribbon cutting attended at the departure gate by its senior level management and the 200-plus passengers.

Many passengers commented on the design of the 219-seat interior plane as well as the tranquil atmosphere they experienced. Many noted the reduced noise from the engines, wings, and landing gears along with many of the other special features of the plane. Many new features include 30% larger windows with adjustable tint windows, spacious storage, dynamic LED lighting, a quieter cabin, and a smoother ride. The plane’s composition produces greater fuel economy, less maintenance, lower cabin pressure, and less time out of service. Attached above is a short video of the interior of the Dreamliner.

Even with the delivery of this one Dreamliner, there is the possibility that Boeing can still face problems with its suppliers which in turn causes further delays with providing its customers finished products. So my question is even with all of these fantastic features of the Dreamliner, does it make up for the years of delayed delivery? With multiple airlines carrying this Dreamliner, what does that mean for the competitive advantage of a company? And with all the past production delays, is it possible that there are still faults with the Dreamliner?

http://www.businessreviewusa.com/business_leaders/united-airlines-debuts-first-boeing-dreamliner

https://hub.united.com/en-us/787-Dreamliner/Pages/Infographic.aspx

 

A College Graduate’s Worst Nightmare

Posted on by f1234erose
C.E.O’s and business executives are turning their backs to the recent college graduates claiming that they are under qualified. Link to NYTimes Article “How to Bridge the Hiring Gap”

In the business world today, college graduates are frightful to enter the workforce because they are convinced that their knowledge and degree will never land them a job good enough to pay off their tuition debt. As of late, executives who are looking to hire this bright new knowledge are claiming that they are unable to find applicants who are qualified for the position they seek. When one tries to uncover this paradox of linking those who need work to those who need workers, one will find that there is a divide that is weakening the success of both aspects.

An Economics graduate from the University of North Carolina stated that although they graduated with a 3.6 G.P.A and degree for a major that was high in demand, they believe that the bashing of their generation will never end causing employers to believe that they will never be able to add value to the company. Looking from a different perspective, a large majority of C.E.Os of companies are backing up their hiring decisions in regards to recent graduates by stating that these recent graduates lack the skills and discipline required in the workplace. A main cause of this is that young employees come into a new job believing that they are automatically entitled to a promotion before mastering the assigned tasks for the position in which they started. Executives are trying to encourage young hires that rotating through departments and letting the managers monitor their progress step by step will let them prove their abilities. Managers, executives, and CEOs who are hiring are warning recent college graduates that training programs will only recruit applicants will immediately applicable skills due to the fact that they no longer have time to hire bench strength.

The dilemma of hiring new college graduates proves that  management operations is changing up the game. The basic management functions of planning, organizing, staffing, leading, and controlling will no longer apply to the recent college graduates unless they are truly ready to work from the bottom to the top. If we go by the textbook, staffing is performed effectively by following proper recruitment procedures and then selecting the candidate that is most qualified in meeting all the job requirements. The major ethical decision I contemplated while reading this article is whether this treatment is fair for the recent college graduates. If one is over-qualified for an entry position within a company should they be forced to rotate through departments being encouraged by employers to learn knowledge in which they have already acquired?

 

11:11 Make a Wish – China’s Cyber Monday

Posted on by f1224sshelhamer

Many may know and participate in the United States huge rush for online shopping after Thanksgiving, also known as Cyber Monday.  However this ranks as the second largest e-commerce event in the world.  In the recent years, an online shopping extravaganza has emerged for China.  It began in the 1990s by college students who did not have a significant other.  As a replacement for Valentines Day, young adults without partners began treating themselves to dinners and gifts.  The concept of the date arose by November 11th or 11-11 which has 4 singles (for singles).  It has now erupted into possibly the busiest online shopping day in the world.

The simple items have now evolved into jewelry, TVs, and even cars.  The event has also spurred the need for different marketing techniques and price cuts.  As the article mentioned, some retailers have promised discounts up to 70 percent off.  The deals are very hard to resist and resemble many aspects of the United States’ Cyber Monday.  Halfway through the day,  approximately $1.6 billion in sales have been accumulated by means of the largest website for online shopping in China, tmall.com.  This amount has surpassed the $1.25 billion that United States online retailers took in last year’s Cyber Monday according to the article’s source comScore, a research firm.

Companies have also had to begin planning and forecasting sales and delivery services months in advance.  Alibaba, the largest Chinese operator of e-commerce, has requested additional lounge chairs and made reservations for rooms in nearby hotels for their employees to take much need breaks and relaxation.  According to the article,  more than 800,000 delivery personal will be working Sunday with the additional 75,000 hired seasonal workers.  And one of the largest companies has even expanded their operating capacity by 50 percent.

Although the idea of a large shopping spree day online in China may be different from the United States, there are many similarities when it comes to the businesses and their preparation.  Do you see a growing trend in online shopping in American or believe that making the trip to the store is necessary?  In my opinion, I believe it matters in the nature of a product to either purchase it from a picture on the screen or physically taking the good off the shelf.

 

Article Source : http://finance.yahoo.com/news/singles-day-chinas-online-shopping-070856623.html

Shell or Shock? Possible Redesign of Toyota Prius

Posted on by f1223jkundrat

Toyota Motor Company is considering a complete redesign of its iconic economy car, the Prius. After 15 years in production, with only very subtle design changes as seen in the design evolution pictures below. It would be a big risk for Toyota to drastically change the proven design of the Prius, but it could also open it to a large new consumer base. Since its original debut in 1997, the Prius has epitomized the movement towards environmentally friendly hybrid vehicles that run on both gasoline and electricity. The Prius has experienced record sales in 2012, with sales increasing 60 percent over last year.  The main driving factor for the possible shift to a new design is to move away from the awkward shell type platform that has reigned since its initial debut. Although the shell is an incredibly aerodynamic style, it has traditionally been seen as something of a “geek mobile” and was often ostracized by most car enthusiasts.  By shifting to a more generally appreciated design, Toyota would see its target market grow substantially, since most car buyers are always looking for the best mix of fuel economy and design appeal.

It is slightly surprising that Toyota is considering such a drastic redesign, since it is currently in the growth stage of the product life cycle. As stated in class, the growth stage is when a manufacturer needs to focus on competitive product improvements, which are needed to help it stay current with the recent  introduction of new competitors such as Ford, and the continuing rivalry with Honda. However, Toyota Prius has managed to follow one characteristic of  the  product life cycle, and that is to enhance distribution and capacity. It has managed to increase capacity from only a few thousand units in its initial introduction, to nearly 700,000 through only the first 9 months of this year. By designing a new generation of Prius to appeal to more style conscious consumers, Toyota may end up gouging its current market, since many of the current buyers appreciate the iconic shell shape. At this point it is impossible to predict the exact fate of the Prius, since the new design has yet to be finalized. However the question arises of what possible design attributes can Toyota maintain from the current model to retain current customers, and what can they change to help attract new buyers?

 

 

http://www.bloomberg.com/news/2012-11-04/toyota-mulls-whether-to-change-prius-look-to-widen-appeal.html

 

 

Knowing the Future, for the Stability of Present

Posted on by f1222sghatila

Knowing the Future, for the Stability of Present

Everything in our daily lives requires a form of forecasting for us to be able to predict what to wear, consume, and safety. Hurricane Sandy, which is forecasted to hit the East Coast, helps people with their safety and precautions we  have to take to secure their lives, family, and home. Many people are planning to evacuate because of the information given about the hurricane in advance. We depend on these types of information for our health and safety. Depending on whether the weather channel says if it will rain or snow, we all dress according to that. Due to the current weather situation, many fliers have to consider their delay and canceling of flights. This delays a lot of business process and other situations and airlines have to consider this when rescheduling flights for the process to run again. Forecasting is a major aspect of our life and the information is depended upon for the present to be as smooth as possible.

Most retailers have already forecasted for the sales of fourth quarter, holiday season. They want to produce as much as the demand is suggested for, their revenue depends upon it. Forecasting is a major  aspect of any job. It tells you how many to hire to produce a certain amount, how much of the product will be sold, and this information is critical because competitors thrive on an advantage to do better than you do. Halloween season creates a high demand for candy, which if forecasting did not occur either we would not have enough candy or surplus or either situations have negative consequences on the revenue and growth of the company.

Apple is on top of the technology world right now. Their products are sold and back ordered for months because their demand is incredible. Currently IPad mini in white are completely sold out and even though black ones are still available, their inventory does not have enough for those who demand it. They are losing on business for those that could have been sold if availability was an option. Having a demand forecasted accurately would help the business grow and keep consumers happy. Loyal customers will always stay as long as possible but those who are indecisive about a brand will potentially lose a customer if forecasting is not done accurately.

In what other ways do we use forecasting for our daily lives?

http://www.chicagotribune.com/business/breaking/chi-airlines-ask-fliers-to-reschedule-due-to-big-storm-20121026,0,3996884.story

http://www.chicagotribune.com/business/breaking/la-fi-tn-apple-white-ipad-mini-20121026,0,4979541.story

iPad’s Little Brother

Posted on by f1223hlodhia

Apple Inc., one of the world’s largest innovators, has, once again, announced the launch of a new product: a smaller version of their best-selling iPad Tablet. Once again, early adopters and loyal customers flock to see the newest hype that the company has to offer.

After being under the scope of the public for their iPad, Apple Inc. has decided to take on the challenge of creating a product that can compete with Amazon’s Kindle Fire HD, Google’s Nexus 7, and others. Previously, many customers had complained that the iPad itself was very large and heavy compared to its competitors., as well as being very costly. Although Apple has not commented about any specific features about the product itself, many excited and loyal Apple customers have come up with their own list of potential features and rumors of production that Apple may consider when creating the mini iPad since the company is known to put customer satisfaction at the top of their priorities.

First, a “major Apple investor” has publicly claimed that the iPad mini will be unveiled on October 17th, 2012 and that the official launch date of product will be November 2nd, 2012, which gives customers plenty of time to obtain the new creation for the upcoming holiday season.

Second, rumor has it that the iPad mini will have a 7.85 inch liquid crystal display (LCD) with a 2,048-by-1,536 pixel resolution, although the screen will not have the same retina display of the original sized iPad. This may be to simply keep the cost of the product lower and more affordable to the public.

Since the cost in the market is a major driving factor behind this new product, there has been some speculation that the cost and price was also very important to Apple. There were many concerns that the iPad was priced too high for many people, which is why Apple decided to come out with a newer, more cost effective alternative for those people who do not want to spend $399-$499 on the iPad. Instead, it is expected that the iPad mini will retail for about $249, which is slightly higher than the prices of its major competitors.

Along with the rumors of its features and displays, there have been some claims that people have obtained leaked photos of the final product. Some of the physical attributes that can be seen in the final product are:

  • Wi-Fi adaption
  • nano SIM tray for cellular connectivity (thought to be for a pricier model)
  • An 8-pin “Lightning” connector found
  • A microphone jack in the same upperleft corner as current iPads
  • Aluminum backing
  • volume buttons on the right side of the tablet with a switch
  • rear-facing camera
  • two speaker grilles at the bottom

The last major rumor about the iPad mini is the location of production. Although nothing has been confirmed by Apple, production has been thought to be in China and Brazil.

 

Potential leaked photo of the new iPad mini

More information about can be found at http://shopping.yahoo.com/blogs/digital-crave/ipad-mini-almost-know-162420535.html

IPhone 5 Apple Maps VS. Google Maps

Posted on by f1213nshah

In 2007 Apple introduced something called an IPhone which changed the world forever. Each year since 2007 Apple has been releasing new models of the IPhone. This year there newest addition was the IPhone 5. The IPhone 5 is the fastest and thinnest smart phone in the world.  Apple sold over five million units within the first couple weeks.  This is more than the amount of IPhone 4S that were sold in the opening weeks.

The new IOS6 firmware that was introduced with the IPhone 5 came with a few changes. A lot of people weren’t happy with some of these changes. One of the biggest shockers for users was that the maps application was changed. The previous five IPhones used Google Maps. Google Maps has been the leading maps application for smart phones for a while now, ever since they passed Yahoo and MapQuest.

Apple introduced its own Apple Maps application with the release of IOS6. There have been many complains about this new maps application. People have been complaining that:

  • The application has fewer details
  • There is no longer an option to select public transportation
  • There are misplaced landmarks

These issues aren’t really that big of a deal. Apple was looking at the overall picture when they decided to make the switch from Google Maps to their own. It took Google years to make it to the top of the market with their maps application. People shouldn’t be surprised that apples maps application is not as good as Google’s. The reason is because Apples application is still new. I’m sure that if consumers give Apple some time they won’t be disappointed. For years now Apple has been coming out with mind blowing innovations and I feel that there maps application isn’t any different.

People have been too busy complaining about the small issues that they don’t even realize that apple added the one thing that most users were asking for, turn- by- turn navigation.  Apple couldn’t keep Google Maps because Google only allowed turn- by- turn navigation on android devices.

I feel that Apples quality and effort can’t be beat.  They have been making top quality products for years and I feel that this is never going to change.

http://news.yahoo.com/analyst-iphone-5-demand-unfazed-map-concerns-212545406–finance.html

 

Real World Project Management

Posted on by f1222jgruszka

Have any of you ever heard of a little thursday party called, “Recess?”

For those of you who have not, I will quickly give you an idea of what this party is.  Recess takes place at a small venue known as Barn & Company (on the corner of Sheffield and Wrightwood).  It is labeled simply as, “the party,” because that is what is it is – a party.  Myself along with a few other young gentlemen began Recess just a few short weeks ago; however, it has been growing and growing each and every week.  This particular event is no where near the size of a nation wide music festival, yet it requires just as rigorous planning.

Every thursday night there is a standard that needs to be met.  This standard would fall apart if proper planning was not set into motion during the weeks prior.  Planning, scheduling, and controlling are three crucial aspects in this process.  When I sit down with my partners and discuss each week, we first begin by planning.  This included assigning specifics roles to each individual involved,  and setting goals (such as how many people we aim to have come out to the event).  After this takes place, we then schedule.  We write out a list of deadlines that we hold ourselves and each other accountable for meeting each week.  For example, this past week we decided to bring confetti cannons to the bar – something to add a little extra kick.  My partner, Max, was assigned the task of getting the confetti cannons.  He was given a specific amount of money, of which we budgeted throughout the planning process, and was to purchase the confetti canons by a designated date.  He carried this task out successfully (if you were wondering).  Following all of this, we began the controlling phase.  This also included monitoring budgets.  Money was initially allocated to each individual for supplies, and the supplies purchased by that individual had to fit within the budgetary restrictions.

This process does not always go smoothly though.  There are times where we in fact fall behind, or a wrench gets thrown into the system.  In these cases we need to restructure our original plans and deadlines.  In these cases, project management techniques help tremendously.  When we initially sit down and write out our list of tasks we note each task that can be done before any other task starts.  For example, when we go to purchase supplies, we set a specific deadline.  However, something such as this has a lot of slack because we just need to ensure that the supplies are purchased before 9:00 pm on a thursday evening (the whole point being though, that we do not wait until the last minute to run around and get supplies).

This event, Recess, has proven to be a prime example of project planning and management.  The phases and techniques will surely help in future ventures as well.

 

What does Finance know about project management?

Posted on by owenl598

       Being the Finance Manager for a company that does rollouts and installs of POS and Voice systems for major retailers, I really get to see the impact of project management on the companies’ bottom line, be it positive or negative.  We quote our projects between a 30 and 40 percent margin, but in 2011 we saw projects running anywhere between 65 and negative 25 percent.  Our CEO estimated that 80% of the variability was due to our own operational inefficiency, while only 20% was due to factors beyond our control.  While the wide range and inconsistencies of our project margins were troubling, the biggest issue was that overall the margins were down, with over 75% of our projects coming in under quote.  At the beginning of 2012, my boss and I were assigned to investigate what was causing the lower margins, and to come up with a plan to turn it around.  It may seem strange that Finance was assigned this task, but our CEO’s reasoning wass was that we are the ones who look at projects on a macro level and are responsible for explaining the margin variation, while every other department is only focused on their one piece (i.e Sales, Logistics, AR, etc.).

       After spending two months auditing our operations, talking with people in Sales Engineering (quoting), Sales, Operations, Logistics, and AR, we identified many problems contributing to the lower margins, but the overall problem that we identified was a lack of a clearly defined process for our projects.  While every project is different in terms of the scope of work at the site and the deliverables that the customer expects, if the administration of a project on our end is done consistently, many of the problems we run into could be eliminated. 

       Some examples of simple steps that have been skipped leading to a hit in our margins are: 1) final revisions to quotes not being authorized by the customer, 2) sales not reviewing the first invoices that are sent to the customer, 3) work orders not being created in time so that contracting has to rush to contract the labor and has to pay premium rates, 4) AR not putting job notes on the invoice, 5) Logistics shipping the wrong equipment to the site, and 6) work being approved without a customer PO.

       To control the problems and get all the departments on the same page when it comes to our project management, we developed a project checklist and worked with IT to implement this checklist into the current PM software we are using. With this checklist, every adminitration step has a due date, a responsibility assigned, and needs to be checked off before moving on. The benefits of this include increased organization, increased accountability, and better communication. Since we implemented this new checklist, we have seen an increase in our margins each month in the last 3 months, as well as increased cash flow by ensuring we are collecting the revenue quicker from our customers.  It’s amazing to see what an impact the simple step of creating a comprehensive checklist can make to the bottom line.

Here is an excel copy of out Project Accountability Checklist for anyone interested.

What do your companies do to keep projects organized on the back-end? Do you have any kind of defined project process or checklist?

Software to Simplify Project Management

Posted on by jamesonh301s12

Learning about the aspects of project management was interesting to me because a business can be successful unless it manages it projects successfully.  I worked at a painting company one summer and our project management was directly linked to how successfully we completed a job.  The owners of the company had to assess how much time would need to be dedicated to a project and how much it would cost to complete.  They would also choose which employees they wanted to do which job.  The employees who performed the best were put on the most important projects.  Project management was successful at our company because we had clearly defined goals, each job was unique, the jobs required our specialized skills, and all of the projects were temporary but each was essential to the success of the company. 

 It was also essential for our company to use the process of planning, scheduling, and controlling.  The planning stage included figuring out what products or tools would be needed to complete a job, figuring out who would be put on the job, figuring out transportation, and other things of that nature.  The scheduling stage would include decisions like the jobs start date and the estimated end date.  They would also need to schedule when they wanted the job to be completed during the day.  Some jobs could only be worked on at night because the business could not be disturbed during the day. The controlling aspect would be making sure that everything is going according to schedule and that the quality of the work met company standards. If a job was substandard then adjustments had to be made to scheduling to fix the problem. 

The owners of the company also had to decide which projects took precedence over others.  Sometimes we would be told to put a current project on hold because more important project required more attention.  Deciding which projects take precedence is essential to the company’s success because you need to be able to understand which accounts are most important to your business so you can keep them happy. 

Keeping track of all of this would be very stressful.  However technology is being designed to make managing projects a little bit easier.  The company semYOU has come out with new project management software called sem.ProjectPoint(http://www.prnewswire.com/news-releases/cloud-project-management-semyou-releases-new-version-of-semprojectpoint-159862105.html).  This is cloud based software so it allows you to store and easily share information throughout a company.  It also allows you to view information about your company in useful ways such as in pie charts or other forms.  This allows you to quickly find overviews of what’s going on in your organization and will help to identify a company’s needs.  Would integrating this new technology into a company’s project management process be beneficial to an organization, or would it interfere with their existing methods?