1.12 Feasibility Studies

Question 1

What is a feasibility study?

Answer 1

An assessment of the practicality of a proposed plan or method before investing in materials and manufacturing equipment.

Question 2

Buffer zone

Answer 2

Temporary storage areas where partially completed work is stored while slower tasks or processes are completed

Question 3

How can feasibility studies be conducted?

Answer 3

Physical prototypes, CAD and spreadsheets to calculate cost of labour

Question 4

Takt time

Answer 4

The maximum amount of time in which a product must be produced to meet consumer demand

Question 5

Cycle time

Answer 5

The amount of time it takes for a manufacturing process to be completed