custom designed to simulate real-world issues organizations face on a routine basis
This consists of four problems; each problem was custom designed to simulate real-world issues organizations face on a routine basis. These problems also reflect the key techniques/concepts taught in MA6600. Knowledge of Excel QM/POM, or any applicable software is essential for successful completion of this assignment.
Carefully read each problem prompt and thoroughly study the assignment rubrics to ensure you understand how each problem will be graded.
Scenario: In all four problem-prompts described below, you have graduated from NAU and landed a very competitive job as an Operations Manager in a small startup company. The firm is a medical device manufacturer; it develops and manufactures trans catheter aortic valve replacement systems.
Problem 1
The firm is planning on receiving a regulatory permission to sell its product in different regulated markets. The details are presented in Table 1. The marketing department conducted research and summarized the cost and duration of processing the application, the odds of a positive outcome, and the sales opportunities. Deciding what market the firm should enter is based on the potential profit generated over a 24-month period.
You need to decide which market the firm should start the regulatory approval process.
Carefully read the grading criteria on the LP5.2/Problem 1 Assignment Rubric to ensure you understand how this problem will be graded.
Table 1: Summary of Marker Research
|
Agency Name |
Processing Fee |
Average Processing time (months) |
Approval Chance |
Annual Sales per market |
|
|
USA |
FDA |
248 K |
5 |
0.8 |
$1,000,000 per month |
|
EU |
MDD |
300 K |
1 |
0.85 |
$700,000 per month |
|
China |
CFDA |
82K |
3 |
0.9 |
$660,000 per month |
|
Japan |
PMDA |
320K |
12 |
0.9 |
$250,000 per month |
|
India |
CDSCO |
47K |
5 |
0.95 |
$470,00 per month |
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