firm might use to control its inventory? Why should different methods be used for different types of inventory? 3. Discuss just-in-time (JIT)‚ rationalizing‚ and outsourcing as methods for reducing inventories. Include both the benefits and potential problems. What factors would need to be considered before you could recommend that a firm adopt or not adopt a JIT system? 4. Regarding the BN-88-55 motor end shield: a) Identify each step in the BN-88-55 production process and identify where inventory
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Bose Case Study By: Girdhar Agrawal goa5069 S.C.M. 406 Objective: To help Bose Corporation continuously improve‚ its sustainable competitive edge as technological leader of acoustic science‚ by analyzing and improving the performance of its Supply Chain. Executive Summary: Bose Corporation‚ headquartered in Framingham‚ Massachusetts is one of the largest producers of audio premium speakers. These speakers are used in automobiles‚ high-fidelity systems and consumer‚ commercial broadcasting
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TOYOTA Brief Company Overview Toyota Motor Corporation is a Japanese multinational corporation‚ and is considered the world’s largest automaker of automobiles‚ trucks‚ buses‚ robots‚ and providing financial services. The company adopts a philosophy in terms of its production system‚ which is named The Toyota Way. Its philosophy in production involves a list of fourteen principles that are implemented in the company‚ and serve as guides to the operation of the company Resources Tangible resources
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Assignment # 1 SCMT 200 NAME: DHALWANI1.DOC Q1-1. Explain the following terms and provide a “real world example” of each term. a). Second-tier supplier: The first tier’s supplier’s supplier is the focal firm’s second tier supplier. Second tier suppliers are companies that sell and deliver goods and services to a first tier supplier. An automobile company could have a second tier supplier that would supply materials or parts to another company which would then supply materials or parts
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and Auditing and Industries‚ Manufacturing‚ and Technology subjects. It is also an accounting system in which costs are applied to products when production is completed. Backflush accounting is a product costing approach‚ used in a Just-In-Time (JIT) operating environment‚ in which costing is delayed until goods are finished. Standard costs are then flushed backward through the system to assign costs to products. The result is that detailed tracking of costs is eliminated. Journal entries to inventory
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when it is actually needed and not before time it is known as Just-in-Time learning (JIT). It does not defer the implication of knowledge instead it relies on self implication while learning. Following are the advantages and disadvantages of Just-in-Time learning. ADVANTAGES: • When we learn before time we may loss the information and skill when it will actually be needed and a refresher course is needed but JIT eliminates the need for refresher training • It allows the learners to receive
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E17.15 Spear Custom Furniture uses an activity-based cost accounting system to apply overhead to production. The company maintains four overhead cost pools. The four cost pools‚ and their budgeted amounts for the upcoming period‚ are as follows: Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40‚000 Materials handling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20‚000 Set-ups
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Question 1 3 out of 3 points | | | |[pic] |If a system is well balanced‚ which one of the following changes usually calls for a larger-capacity cushion? | | |Answer | | |Selected Answer:
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competitors. They’re known for their Toyota Production System (TPS) which other vehicular companies were trying to mimic. This TPS is the main reason why there’s Just-In-Time (JIT) and Lean Manufacturing system in the manufacturing industry today. Toyota used these two manufacturing methods to gain competitive advantage over competitors. In JIT‚ Toyota build vehicles based on immediate market demands rather than anticipation on future market demands. There’s no overstocking. This strategy results in efficiency
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productivity. The disadvantages of GM’s strategy for operations are: i) Since plants are similar to one another‚ GM had to make adjustments in each to meet unique conditions in each country. (e.g. Poor infrastructure posed challenges in managing JIT system in China) ii) GM’s international strategy has been rather typical. First‚ it exports‚ then builds local subsidiaries (i.e.‚ Germany and Argentina)‚ then joint ventures (the NUMMI plant with Toyota in Fremont‚ California)‚ but is now moving
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