Operations 1
- Created by: ktwalters
- Created on: 09-03-21 19:56
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- Lean operations
- METHODS
- time based management = recognizes the importance of time and reduces the level of time wasted
- quicker response times to meet customer needs, faster new product development
- simultaneous engineering = helps firms develop and launch new products more quickly - planned together
- new product is bought to the market quickly, gives a better profit margin through a premium price
- cell production = form of team working, roduction processes are split into cells
- closeness to members improves communication, workers become multiskilled and more adaptable to needs of the business
- business may have to invest in new materials, has to embrace trust and participation or workers can feel pushed for greater output with no respite
- JIT = ensure that inputs into the production arrive when they are needed
- lower stock holding means a reduction in storage space - saves rent and insurance costs, less working capita, less likelihood of stock perishing
- there is little rooms for mistakes and minimal stock kept for faulty products, a need for specialist stock systems
- time based management = recognizes the importance of time and reduces the level of time wasted
- focuses on cutting out waste but ensuring quality
- METHODS
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