Management
- Created by: Olivia Letts
- Created on: 30-10-18 16:08
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- Management
- Just in Case (JIC)
- Advantages: + prepared for sale surge + no risk of running out of stock
- Disadvantage - stock might be wasted - storage issues and over ordering
- A business will order 100 more pairs of shoes just in case demand increases
- Just in Time (JIT)
- Advantages: + cost of storage is reduced + less opportunity for stock to be outdated
- Disadvantage - production reliant on suppliers - delivery costs increase as smaller quantities delivered
- Business will order 50 shoes just in time for them to be sold
- Cell Production
- Advantages: + improve communication + greater working motivation due to variety of work
- Disadvantage - company may have to invest in new materials handling and ordering systems - company culture may feel they are being pushed for more
- production of metallic casing arrives in separate pieces to be put together by employees
- Simultaneous Engineering
- Advantages: + product brought to market quicker + greater sense of involvement across business functions improves staff commitment to project
- Disadvantage - all functions involved, decision making takes longer - time estimates may be miscalculated
- Business planning new product to launch with all employees working together
- Time Based Management
- Advantages: + reduction in waste; greater efficiency + quicker response times to meet changing market needs
- Disadvantage - self - improvement is mandatory - not effective if restricted work rules or no trust between manager and employees
- Reducing amount of time that is wasted in production process of a business
- Just in Case (JIC)
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