Date: November 25, 2011
Time: 10:00 AM – 11:00 PM
Location: EB 2110
Attending:
Advisory Board Members:
- Erik
- Jonathon
Team Members:
- Ian (Facilitator)
- Colby
- Matt
- Christa
- Casey (Administration)
Agenda:
1. Introduction
2. Supply Chain
3. Cash Flows
4. Address previous action items
a. Fabric swatches displayed
b. Final Prototype development explained
5. Address the parking lot
a. Flat lock sewing machines
b. Prototype update – how we are getting our 10% bonus
6. Explanation of the next two weeks
a. Business Plan
b. Prototype Development
c. Final Pitches
7. Final Conclusion, exchange of contact information and Thank you to Advisors
Action Items:
1. Final Prototype Development
2. Business Plan
3. Pitch Development for Finals
Summary:
After introductions, Ian opened up with an explanation of the supply chain assignment. As a group we discussed realistic assumptions around timing as well as manufacturing. The availability of suppliers and their shipping schedules was discussed at length. Matt documented the group decisions to help to finish the assignment during our next NYX team meeting.
Along with the basic inputs and outputs of our supply chain we discussed Key Value Events as well as Key Performance Indicators for NYX and the distribution of the final product. The final decisions are below:
The Key Value Events are:
- Market validation – having the first working prototype validated by the market
- Empirical results – having a finished prototype that provides actual results from studies in the human performance lab
The Key Performance Indicators are:
- Perfect order rate
- Average days on hand
- Backorder rate
- Forecast accuracy and seasonality
- Number of loading time per vehicle
- Labour Productivity
- Cash Flow
- Efficiency of Assets
The next item on the agenda was cash flows. A brief description of this assignment was provided to the board. Upon discussing the requirements we decided that a connection with Jim and Barb may provide more insight towards this project. If we require assistance with this assignment we will email them with specific questions to help finish the project.
Casey took time to explain the final prototype and its properties. She outlined the email sent out explaining how NYX intends to get a full 10% bonus grade on the prototype development. She then outlined the final prototype; the inputs and expected expenses for NYX to incur. A flat lock sewing machine will be used to create the last prototypes. The final prototype will be created during the week of December, 01 2011.
Ian concluded the meeting by outlining the next two weeks of the Model the Start class and what NYX’s requirements are.