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Feasibility Analysis And Benchmarking Study

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Question:

Discuss about the Feasibility Analysis and Benchmarking Study.
 
 

Answer:

Introduction

Uncertainty is constant that businesses in spite of their sizes face daily. Getting the customers easily and encouraging them in spend along with generating profit ultimately are the primary objectives of a business organization. Hence, changing and adopting new products as well as ideas into the business mix are the ways to minimize uncertainties faced by the organizations. The assignment deals with research choose and provide definition of feasibility and feasibility study along with explaining the characteristics of selected definitions. A set of criteria for accessing feasibility of given information system are explained in the study. In addition, feasibility report is created for Kiwi Auto Parts Ltd. After accessing potential solutions against the criteria recommendation are provided to the solutions.

Feasibility is an action or event, which is likely, probably and possibly to occur or achieve. In other words, feasibility is the state of being easily as well as conveniently achieved. On the other hand, feasibility study is total action that is taken as well as asked questions in order to determine if an idea or plan are succeed (Shabbir & Mirzaeian, 2016). In addition, an effective study guide for moving forward with the idea and refine it as well. Scrapping and going back can also be happened with the help o feasibility study. There are different characteristics of feasibility analysis. There are different characteristics of feasibility study such as specific, the big picture and alternative solution.

Sahouria and Tritchkov (2014) stated that feasibility study is focused as well as specific. Feasibility study is not similar as the business plan. It is an investigation tool, which might cause to discount idea if plan of the business is call to particular action. On the other hand, feasibility study is important as it forces to consider the big picture as well as think in top-down fashion. In order to consider the other process and create extra questions, which enforce to consider in possible questions (Dusonchet et al. 2016). It is required to explain the products and its advantages as well as defining the target market. It is important to calculate costs as well as break-even along with points for profit. Feasibility study offers chances to get rights before commitment of time.

 

A set of criteria with which to access feasibility of information solution

There are some specific criteria through which feasibility can be accessed.  One of the areas is functional desirability as well as feasibility (Singman et al. 2015). In the present case scenario, kiwi Auto Part Ltd, a successful distributor of auto parts to the retailers around the country. As the part of feasibility, it is important to understand feasibility of expanding the business. The organization purchased warehouse in Penrose. Distribution of products to the retailers is involved with it (Magesh et al. 2013). Hence, business needs to be successful and regional office as well as distribution centre in small warehouse is involved. Functional feasibility would be helpful to find feasibility in this matter.

On the other hand, financial stability is one of the criteria that are useful to analyze feasibility in this aspect. The organization has turned $2 million in the profit from a sale of $100 million with over 80 retailers. Hence, it is required to set criteria for market feasibility that is suitable for the organization (Zhengxing et al. 2015). In addition, it is important to achieve economic feasibility in order to analyze and confirm the expected rate of return in the business. 

Phases of System Development Life Cycle

System development life cycle is a series of phases in order to create hardware systems only and a software system, which is a combination of hardware and software in order to encounter expectations of the customers (Horstmeyer et al. 2015). System is generally a broad term and defines as a set of interaction as well as formation of interdependent elements that forms integrate whole. It is used in the different industries. Thus, software development life cycle is considered as limited term, which describes different phases of creating software elements that integrates with different software elements for creating the whole system.

Baldi and Gabrielii (2015) asserted that there are several phases of system development life cycle such as system planning, analysis, design, implementation, testing and integration as well as maintenance. System planning is one of the most important steps in order to create successful system. Defining the issues, the objectives as well as resources like personnel as well as costs are achieved in this phase (Klukas, Chen & Pape, 2014). On the other hand, needs of end users are required to be determined as well as documented that expectations perform for the system.  Feasibility study is developed for the project that involves if it is organizationally and economically, socially as well as technologically feasible. Hence, it is crucial to maintain strong level of communication with the clients ensuring that the organization has a clear vision of the finished products as well as its function (Ruiz et al. 2014). Designing phase generally comes after good understanding of the requirements of customers. The particular phase defines the components of the system are up to the level of security. On contrary, implementation and deployment phases comes after completion of comprehending the system needs as well as specifications (Enck et al. 2014). System testing as well as integration phase deals with the bringing distinctive elements as well as subsystems together in order to create entire integrated system. Testing can be performed through real users. On the other hand, system maintenance deals with periodic maintenance for the system that can be carried out to ensure that the particular system becomes not obsolete (Falkenberg, Hesse & Olivé, 2016). In the present case scenario, it is crucial to make system development life cycle for planning the entire process for the organization. Das (2016) commented that the expansion of the company needs to be feasible in all aspects that it will fulfill the organizational target (Bjorner et al. 2014). As packaged products are dispensed from Auckland as well as Christchurch after getting the emails or phone calls from the retailers, the products of North Island can be prepared in the preparation shed.

  • It includes estimation as well as analysis of the rate of growth
  • In addition, estimating the probable density of the population are include in it.
 

Economic as well as social conditions

  • Presenting living standards of several groups
  • Conditions of housing
  • Detection of the locations as per the level of income
  • Education data, literacy and unemployment

Available resources of water

  • It is important to check the adequacy of the surface as well as ground water with respect to quantity along with quality
  • Growth of water resources
  • Pollution issues

Existing system for water supply

  • The detailed information regarding water supply system such as sources, capacity, served area and hours of supply are included in that. In addition, number of connection and rate are consisted of the existed system (Klukas, Chen & Pape, 2014).
  • Existing system of staffs at average pay at the rate of $30/ hour
  • The distribution schedule is very tricky for working out. As Lindsay is not available, schedules are not efficient
  • Existing overtired staffs are stressed and cause more mistakes
  • Existing system of communication between major stakeholders

Requirement for a project

  • Opportunities and status of the report
  • Enhancement and expansion
  • New
  • Deficiencies and limitations of existing system

     Proposed project (Expansion of the business of kiwi Auto Part Ltd)

Details of the project

  • Rehabilitation of the existing facility
  • In addition, construction of new facility is included in it.
  • Construction and development of new facilities
  • Alternative strategies
 


Choosing new sources is one of the alternative strategy need to be considered while doing the project. In addition, alternative layouts are required to be considered.

Characteristics

Candidate 1

Candidate 2

Candidate 3

Brief Description

Do nothing: continue with present  business processes

Expand the business with fulfilling of demands

Candidate 2 plus acquire geographic location

Expansion  of business:

N/A

Inventory record storing for existing components

Candidate 2 plus

Finding alternative strategies

Tricky distribution schedule

N/A

Effective communication method

Online communication medium

Processes

Same as current processes

Managing business with new  procedure

Customer order processing and change in inventory maintenance process

- Method of data processing

N/A

Batch

On-line/real time

Geography (Network)

N/A

Suitable geographic locations

Suitable geographic locations with communication facility

 

Weighting

Candidate 1

Candidate 2

Candidate 3

Description

50

Continuing with present  business processes

Expand the business with fulfilling of demands

Candidate 2 plus acquire geographic location

Operational Feasibility

60

As the system is not manageable, it is required to continue with present business

System of distribution need to be tricky

According to the locations, distribution is to be tricky

Technical Feasibility

70

N/A

It starts with asking if the idea or action is viable solution as well as forces to concentrate on the execution

Central points for serving retailers. the South Island operation was started in small distribution centre.

Economic Feasibility

60

N/A

Average pay rate of $30/ hour

80 hours extra/ week

Schedule Feasibility

70

N/A

Needs to be tricky

Tricky schedule not cover unnecessary trips

Weighted score

62

 

 

 

         
 

Recommendations

It is important to select appropriate and suitable solutions against the criteria. In order to expand the business of kiwi Auto Part Ltd, it is required to increase sales as well as products and the existing markets (Mollalo et al. 2015). It is one of the easiest and risk free method. The tactic requires bigger location as well as distinctive pricing strategy and enhanced pricing techniques.  On the other hand, introducing new products of kiwi Auto Part Ltd can attract attention of the customers and fulfill their demand as well.

  • Developing new market segment and moving into new geography is such criteria that would be helpful for expanding business of the organizations. The areas need cost outlays as well as uncertainty.
  • The moving products into the new categories have demographic segments that need research in market, beta testing as well as strategies for new marketing.
  • In addition, starting chain business can be beneficial for the organization in order to gain competitive advantages in the business.
  • Reviewing the system by AlphaIT Solutions would be helpful to achieve target of the organization. Listing of problems can be helpful for kiwi Auto Part Ltd to identify the issues and take necessary steps according to that.
  • As the costs take large bite out of profits, the organization needs to be focused on the area.
  • In addition, schedule of distribution is tricky for working out. Thus, estimation of unessential additional 10000 kms would be covered in each year.
  • On the other hand, it is required to develop effective commutation among the stakeholders.

Conclusion

From the above discussion, it can be concluded that feasibility study acts an important role for business organization. Hence, it is important to do the feasibility study for expanding business of the organization so that expected outcomes can be listed and take suitable actions if required. On the other hand, system development life cycle is one of the crucial aspects for starting a new business, launching of new products as well as expansion of business as well. The set of criteria for evaluating feasibility of the information system would be helpful to find out the loop holes included in the system. In addition, preparing feasibility report and providing recommendations are useful for in-depth analysis of business expansion of the organization and take necessary steps regarding the project.

 

References

Baldi, F., & Gabrielii, C. (2015). A feasibility analysis of waste heat recovery systems for marine applications. Energy, 80, 654-665.

Bjorner, J. B., Rose, M., Gandek, B., Stone, A. A., Junghaenel, D. U., & Ware, J. E. (2014). Difference in method of administration did not significantly impact item response: an IRT-based analysis from the Patient-Reported Outcomes Measurement Information System (PROMIS) initiative. Quality of Life Research, 23(1), 217-227.

Das, J. C. (2016). Power system analysis: short-circuit load flow and harmonics. CRC press.

Dusonchet, L., Zizzo, G., Favuzza, S., Massaro, F., La Cascia, D., & La Cascia, D. (2016). Feasibility analysis and study of a grid-connected hybrid electric system: Application in the building sector.

Enck, W., Gilbert, P., Han, S., Tendulkar, V., Chun, B. G., Cox, L. P., ... & Sheth, A. N. (2014). TaintDroid: an information-flow tracking system for realtime privacy monitoring on smartphones. ACM Transactions on Computer Systems (TOCS), 32(2), 5.

Falkenberg, E. D., Hesse, W., & Olivé, A. (Eds.). (2016). Information System Concepts: Towards a consolidation of views. Springer.

Horstmeyer, A., Zabotin, S., Urbina, A., & Pratt, B. (2015). Responsible Wastewater Management: Whiting Farm Wastewater System Design and Feasibility Analysis.

Klukas, C., Chen, D., & Pape, J. M. (2014). Integrated analysis platform: an open-source information system for high-throughput plant phenotyping. Plant physiology, 165(2), 506-518.

Klukas, C., Chen, D., & Pape, J. M. (2014). Integrated analysis platform: an open-source information system for high-throughput plant phenotyping. Plant physiology, 165(2), 506-518.

Magesh, N. S., Jitheshlal, K. V., Chandrasekar, N., & Jini, K. V. (2013). Geographical information system-based morphometric analysis of Bharathapuzha river basin, Kerala, India. Applied Water Science, 3(2), 467-477.

Mollalo, A., Alimohammadi, A., Shirzadi, M. R., & Malek, M. R. (2015). Geographic information system?based analysis of the spatial and spatio?temporal distribution of zoonotic cutaneous leishmaniasis in Golestan Province, north?east of Iran. Zoonoses and public health, 62(1), 18-28.

Ruiz, M., Costal, D., España, S., Franch, X., & Pastor, Ó. (2014, June). Integrating the goal and business process perspectives in information system analysis. In International Conference on Advanced Information Systems Engineering (pp. 332-346). Springer International Publishing.

Sahouria, E. Y., & Tritchkov, A. V. (2014). U.S. Patent No. 8,640,059. Washington, DC: U.S. Patent and Trademark Office.

Shabbir, I., & Mirzaeian, M. (2016). Feasibility analysis of different cogeneration systems for a paper mill to improve its energy efficiency. International Journal of Hydrogen Energy, 41(37), 16535-16548.

Singman, E. L., Haberman, C. V., Appelbaum, J., Tian, J., Shafer, K., Toerper, M., ... & Adelman, R. (2015). Electronic Tracking of Patients in an Outpatient Ophthalmology Clinic to Improve Efficient Flow: A Feasibility Analysis and Benchmarking Study. Quality Management in Healthcare, 24(4), 190-199.

Zhengxing, M., Qi, L., Xu, Z., Wenjin, X., & Qingquan, D. (2015). Feasibility Analysis of 3D Print Technology Applied in Heavy Casting and Forging. Heavy Castings and Forgings, 5, 002.

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