The old practices are outdated and worked fine for historical mass production, but are no longer acceptable for today's business environment containing Just-in-Time scheduling, zero defect, and zero inventory production systems. There are also apparent problems with using profits for motivation and short-term performance assessment... displayed 300 characters
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There are also apparent problems with using profits for motivation and short-term performance assessment. In closing, it is unlikely that current researchers can find solutions to today's business problems by reading journals, because the information contained is quickly becoming archaic in today's business environment... displayed next 300 characters
Just In Time specifically refers to an attempt to eliminate inventory by meeting needs and requirements right on time as needed. The concepts of JIT production are considered to be the leading edge of technological advancement and a future in the industry...
The old practices are outdated and worked fine for historical mass production, but are no longer acceptable for today's business environment containing Just-in-Time scheduling, zero defect, and zero inventory production systems...
What’s the purpose of an order entry?
-record customer purchases and keep in contact with them
What do management systems do?
-track orders and deal with shipping
*Web gives direct access to customers*
What do manufacturing systems do?
-facilitates production of goods
-for inventory, planning, scheduling, and manufacturing operations
-manufacturing planning: labor costs, equipment requirements, diff parts of product
*Items in inventory systems are identified by bar code; inventory systems use past data to restock and also computes inventory losses
What is RFID?
-Radio Frequency ID tags (computer cards)
-used for keeping track of goods’ location
What is JIT? (Just-In-Time)
-make it when you need it; saves $ in stocking charges
-keeps inventory at a low number
*Some co’s use multiple types of inventory aka Walmart*
-Walmart keeps large inventory, but in the store not in
What is ROI?
-Return on Investment; deals with inventory policy effectiveness
What’s a “what if” analysis?
-manipulate variables (vendor, distribution center, inventory systems)
What is BOM? – Bill of Materials (list of materials needed for product)
Master Production Schedule?
-plan to produce product
-estimate future sales
-also called “push manufacturing process”
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