BUSS211 OM Lecture 4 Lean Operations MRP vs. JIT Professor Kihoon Kim Lean Operations Slide 1 Outline Independent demand vs. dependent demand MRP (Push) vs. JIT (Pull) How MRP works? How JIT works? Lean Operations Tactics Lean Operations Slide 2 Independent vs. Dependent Demand Independent Dependent 1. End or finished items 1. Subassemblies‚ Components/Materials 2. May be uniform demand 2. Lumpy demand 3. Few items - carefully monitored 3. Many items – less emphasis
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Flexible Labour Markets. - Benefits and Disadvantages Flexible labour markets involve a minimum of government intervention‚ they are labour markets which work efficiently and are competitive. Many supply side economists argue flexible labour markets are of great importance in reducing unemployment and improving the competitiveness of the economy. Advantages: 1. Opportunity to exploit 24-hour economy 2. Contributes to an improvement in the inflation-unemployment trade off 3. Flexible wages
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8/08/2012 BUSS5000 Critical Thinking in Business Week 2: Business key concepts (1) Dr Leanne Piggott Director‚ Business Programs Unit BUSS5000 UoS Coordinator THE UNIVERSITY OF SYDNEY BUSINESS SCHOOL Preview of today’s lecture › What is Business? - What do all businesses have in common? › Sustainable Competitive Advantage: the internal dimension - Strategy‚ structure‚ behaviour ›Next week 2 What is business? 1 8/08/2012 Wilcannia › Paul‚ M. 2012‚ ‘Wilcannia’s
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Introduction Management is a social science which covers planning‚ coordinating‚ directing‚ supervising and organizing resources (human‚ materials and financial)‚ which leadership is the guidance and encouragement to manage people (Olufeani Oyedele‚ 2009). According to F. John Reh‚ a manager is the person responsible for planning and directing the work of a group of individuals‚ monitoring their work‚ and taking corrective action when necessary. Different types of manager responsible for different
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activities to achieve desired outcomes. A manager is someone who works with and through other people by co-ordinating their work activities to accomplish organisational goals. (Robbins‚ Stagg‚ Coulter‚ 2003‚ p.10) This definition states‚ the fundamental responsibility of a manager‚ is to accomplish the organisations objectives by ’getting things done through people’. There are however several ways of conceiving managerial responsibilities‚ as a ’manager’ can be viewed from many different positions
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Illinois. Cat Inc is comprised of 26 business units. Cat Inc. is rated number 1 or 2 in every major S&P 500 and Dow Jones Index tracked category in the Construction‚ Agriculture‚ and Machinery industry against its industry competitors. Cat Inc. had a record $30.25 billion in sales and revenues in 2004‚ an increase of 33 percent over 2003. The 2004 record profit of $2.03 billion is 85 percent higher than the 2003. What Caterpillar is best in the world at making: Track-Type Tractors.
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|Page | |Introduction |3 | |P1.1- Compare different management styles |4 | |P1.2- leadership characteristics |5-6 | |P1.3- Evaluate communication
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Economic Objectives Business is basically an economic activity‚ its primary objectives are economic. The economic objectives of a business are to earn sufficient profit to give reasonable reward to the investors of capital and to provide funds for expansion and diversification. The main economic objective of business may be described as under: (a) Earning Profit: Business activity is undertaken for earning profit. Profit is the basic incentive to business pursuits. It is the most important objective
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March 26‚ 2013 Lecture -The function of the eye is to convert photons of light into action potentials (nerve impulses). -The inner layer is a nervous tunic (made out of nerve cells)=retina. -Refraction: Bends light. -The purpose of the cornea and the lens is to take an object and focus every little detail of the object on the retina on the back of the lens. Upside down and backwards. -When light goes through medias‚ it bends. -Lens are suspended by ligaments behind the pupil. Suspensory ligaments
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THE ROLE OF A MANAGER What is a manager? According to the oxford dictionary a manager is ‘a person responsible for controlling or administering an organization or group of staff’ but is that really what a manager is? (Oxford dictionaries 2011)This is because they are many different types of managers‚ as well as different roles each type of manager will have to perform‚ in order to be efficient and achieve their desired results. Also there are managers who must possess certain character traits
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