Chapter 7 Supply Chain Management _______ Types of inventory * By stages of production and value added * Raw materials (RM) * Work-in-progress (WIP) * Finished goods (FG) * They’re not equally costly * Finished goods are more valuable * They need to be managed differently * By function * Cycle stock (working stock): amount of inventory that you expect to sell * Safety stock (buffer stock): amount of inventory that you don’t expect to
Premium Inventory
philosophy in which similar parts are grouped into families and the processes required to make parts are arranged in a specialized work cell. Using Group Technology Cells can reduce movement and improve product flow. Smooth the flow-> pull system-Kanban: Kanban means “sign” or “instruction card” in Japanese; the authority to produce or supply additional parts come from downstream operations; -small lots: Require less space and capital investment‚ Move processes (work stations) closer together‚ make quality
Premium Manufacturing Variable cost Assembly line
TOYOTA PHILOSOPHY At the beginning‚ the author explains 3 chain managements of Toyota. First one is the supply chain management system. The lean manufacturing concepts are created by Toyota such as Kanban‚ Just-in-Time and Kaizen. Toyota’s production system has become so worldwide affective; lots of manufacturers are using Toyota’s lean system. Second component is‚ demand chain management which is coordination of information‚ material and financial flows in the distribution of vehicles. And the
Premium Supply chain management Lean manufacturing Toyota Production System
Case 8-2: Throsel-Teskey Drilling Situation: Alison Burkett - purchasing manager at Throsel-Teskey Drilling Inc. (TTD) o Reports to John Dietrich‚ the president‚ maintained a substantial equity interest in the company. o Responsible for sourcing and materials management. o Reporting to Alison was Ken Jenner‚ materials manager‚ and Emerson Parrish‚ warehouse manager Throsel-Teskey Drilling Inc.: Merged with Teskey-Dean Drilling Inc. (Teskey-Dean) o A mining services company performed diamond drilling
Premium Inventory
Lean Manufacturing is a very popular and successful strategy‚ which many manufacturing companies have adopted over the past 60 years. Mone Consulting Firm has been referring this method for more than 20 years at a high success rate of 99%. If implemented effectively “going lean” for Classic Cable Company will have a positive impact throughout the entire enterprise‚ by introducing attainable goals. The goals of lean manufacturing will achieve: a balanced rapid flow‚ eliminate waste and disruptions
Premium Manufacturing Supply chain management terms Sales order
Toyota and Why It Is So Successful Robert B. Austenfeld‚ Jr. (Received on May 10‚ 2006) 1. Introduction The purpose of this paper is to describe one of the most successful companies in the world and explain the reasons for that success. Fortune magazine’s February 20‚ 2006 edition featured this headline on its cover: “The Tragedy of General Motors” and a story of GM’s woes by Carol J. Loomis. Two weeks later‚ Fortune’s next edition on March 6‚ 2006 had this headline on its cover: “How Toyota
Premium Toyota
Issues on operation management With historical development‚ there are different concepts in operation management such as total quality management‚ supply chain management and inventory management. Product: Lenovo Vs Dell i. Quality control management The company of Lenovo did experience some quality management problems during the early years of the 21st century that had some mixed results. On the other hand‚ the company lost a domestic computer contract to its rival Dell to a chinese government
Premium Management Strategic management Marketing
The current issue and full text archive of this journal is available at www.emeraldinsight.com/0972-7981.htm The perceived impact of JIT implementation on operations performance Evidence from Chinese firms Zhi-Xiang Chen Sun Yat-Sen University‚ Guangzhou‚ China‚ and Perceived impact of JIT implementation 213 Kim Hua Tan Nottingham University Business School‚ Nottingham‚ UK Abstract Purpose – The purpose of this paper is to investigate the perceived impact of just-in-time ( JIT) implementation
Premium Regression analysis Quality management Inventory
The Impact of Lean Implementation on Operational Performance: A Study of Composite Manufacturing Companies in Malaysia 1.0 BACKGROUND INFORMATION In 2012‚ the Asia-Pacific region accounted for 36 per cent of the worldwide market in value for composite production and 41 per cent in volume‚ according to Frederique Mutel‚ president and chief executive officer of the JEC Group‚ which is the world‟s largest composite industry organization‚ representing‚ promoting and expanding the industry
Premium Lean manufacturing Manufacturing
JIT?Just In Time (JIT) is an inventory strategy implemented to improve the return on investment of a business by reducing in-process inventory and its associated costs. The process is driven by a series of signals‚ or Kanban‚ that tell production processes to make the next part. Kanban are usually simple visual signals‚ such as the presence or absence of a part on a shelf. When implemented correctly‚ JIT can lead to dramatic improvements in a manufacturing organization’s return on investment‚ quality
Premium Honda