Five Star Tools

In: Business and Management

Submitted By fahad242
Words 291
Pages 2
Five Star tools is a small business that produces diamond coated cutting tools such as chisels and saws used by jewelers. The company produces these tools in a 3 step manner. The steel is cut according to size and is finally coated with diamond for effecting cutting for jewelers. Recently the company has been doing well and receiving a lot of order but some of the orders have not been completed due the limitation in the coating and sharpening process. The problem with the coating and sharpening process has caught the eye of the vice president Maxfield Turner and Betty Spence, vice president of marketing. They are concerned that they will be known as unreliable if they continue to miss order deadline. The task ahead of them is to figure out what steps can taken to loosen the constraint in coating and sharpening.

The best to solve the problem faced by Five Star Tools is to deploy the Goldratt five steps system to maximize profits. The first steps in solving the problem is to figure out what the constraints are. And in the case of Five Star Tools it is the availability of production resources. Second the company should try to produce Model C120 as it only takes 0.2 hours in the coating department. Thirdly managers should focus on trying to loosen the constraints, and should implement various strategies in order to reduce the idle time of workers. Finally the constraints can be eliminated by using the latest equipment in the coating process, by automating the process and by outsourcing the coating department.

Next step in maximizing profits is to look at the contribution per hour for the two models produced by the company. The contribution is calculated…...

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