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Discuss your thoughts about just-in-time materials management, its value, shortcomings, and provide an example of where it may be implemented. Below is a brief discussion of JIT vs. MRP. Two approaches have had a major impact on inventory management: Material Requirements Planning (MRP) and Just-In-Time (JIT and Kanban). Their application is primarily within manufacturing but suppliers might find new requirements placed on them and sometimes buyers of manufactured items will experience a difference in delivery. Material requirements planning is basically an information system in which sales are converted directly into loads on the facility by sub-unit and time period. Materials are scheduled more closely, thereby reducing inventories, and delivery times become shorter and more predictable. Its primary use is with products composed of many components. MRP systems are practical for smaller firms. The computer system is only one part of the total project which is usually long-term, taking one to three years to develop. Just-in-time inventory management is an approach which works to eliminate inventories rather than optimize them. The inventory of raw materials and work-in-process falls to that needed in a single day. This is accomplished by reducing set-up times and lead times so that small lots may be ordered. Suppliers may have to make several deliveries a day or move close to the user plants to support this plan. Different goals of MRP and JIT mean that each system works better under certain conditions. MRP is well-suited to a production line that operates on a batch or special order basis. The system's ability to constantly adjust for changing requirements makes it react well to variable orders. The JIT system works well in an environment of repetitive orders of similar products. Suppliers can more easily respond to prompt delivery schedules for routine orders of similar materials.
The decisions made based on the EMVs of different alternatives are considered rational
Assuming no other paths become critical, what action would you take to reduce the critical path 1 additional day?
Many firms have positioned part of or all of their products as low cost. Low costs are also commonly thought to equate to low prices. Are low costs the same as low prices? Could a company or an organization have low costs but offer products or ser..
How can you prepare an initial response when charged that will attract the interest of the company that posted the RFP?
Watch the "Structuring Your Organization" video. Write asummary of your team's discussion of each functional organizational types and their pros and cons.
A copy machine is always in one of two states, either working or broken. If it is working, there is a 70% chance that it will be working tomorrow. If it is broken, there is a 50% chance it will still be broken tomorrow. Assume that one day is a na..
Assume that you are about to deposit $1,000 in a passbook savings account that pays an annual interest of 4 percent. Develop a model that will determine the total amount of money you will have in the account at the end of the first year. Also def..
Provide one example of a sitution in which it seems to be more important for a business to be ethical than lawful, and one example of a situation in which it seems more important for a business to be lawful rather than ethical.
The following table shows the activity details of a project. What the earliest the project can be completed?
What do you think about the idea of a human resource department in a professional office? How would you sell the idea of a human resource department to the managing partner?
Which of the following switching methods is faster?
Discuss why variable pay-for-performance plans have become popular and what elements are needed to make them successful.
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