Question 1: TerraCycle management has asked you to highlight how “The Internet of Things” can be utilised for potential improvements within the business. They would like specific examples of how it might bring operational benefits. Within your briefing paper, you should: A)Explain “the Internet of Things” briefly. What does it describe and how is it different from other sensors and data? B). Identify three different sensor applications that TerraCycle could use in its operations and the data that may be collected from them. C) Make recommendations for how that data might be used to improve operations at TerraCycle Recycling Centres. Support your recommendations with two specific applications of this data to TerraCycle’s operations and discuss how this will help them Achieve their operational performance objectives.
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Question 1:
TerraCycle management has asked you to highlight how “The Internet of Things” can be utilised for potential improvements within the business. They would like specific examples of how it might bring operational benefits.
Within your briefing paper, you should:
A)Explain “the Internet of Things” briefly. What does it describe and how is it different from other sensors and data?
B). Identify three different sensor applications that TerraCycle could use in its operations and the data that may be collected from them.
C) Make recommendations for how that data might be used to improve operations at TerraCycle Recycling Centres. Support your recommendations with two specific applications of this data to TerraCycle’s operations and discuss how this will help them Achieve their operational performance objectives.
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