Reference no: EM13919785
The advent of new technologies (the internet, computerization, etc.) and the impact of globalization (products not only available from every country but being developed in multiple countries) has increased not just the demand for goods and services but also has increased customer requirements and expectations. As such organizations must be constantly changing to be as economically competitive as possible. This means doing more with less as the organization becomes as "lean" as possible (no fat).
The operations manager must be aware of how and why lean systems are necessary.
To answer the questions that follow you will need to do additional research using the virtual library and/or internet (within a single posting make sure each question is addressed individually and never combine questions or answers).
In order for an organization to do more with less they must examine all facets of the production or service process. To that end address the questions below:
1. How does just-in-time (JIT) inventory control help organizations become more lean?
2. Where does the information on waste (waste in raw materials, waste in process and flow, etc.) come from?
3. Should line employees be involved in making recommendations to improve lean production and processes or should this decision making be left only to management?
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Immediate delivery of item it stocks for retail sale
: A firm is faced with the attractive situation in which it can obtain immediate delivery of an item it stocks for retail sale. The firm has therefore not bothered to order the item in any systematic way.
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As long as the inflation rate is positive
: As long as the inflation rate is positive, the real rate of return on a security will be ____ the nominal rate of return.
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The current market rate of interest on the bright sun bonds
: Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 12.68 percent coupon rate and paid interest annually. It is now 14 years later. The current market rate of interest on the Bright Sun bonds is 11.60 perce..
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Alpha company normally sells its product
: Alpha Company normally sells its product for $20 per unit. It just received a large order from a new customer at a selling price of $16 per unit.
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Where does the information on waste come from
: Should line employees be involved in making recommendations to improve lean production and processes or should this decision making be left only to management?
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What is the percentage change in price of bond
: Both bond A and bond B have 7.8 percent coupons and are priced at par value. Bond A has 9 years to maturity, while bond B has 16 years to maturity. a. If interest rates suddenly rise by 2.2 percent, what is the percentage change in price of bond A an..
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Network security and the internet
: The general area of network security is obviously of enormous corporate and national importance. And there's no doubt that intrusion detection and prevention is a principal concern. Lately there have been a number of concerted security attacks on ..
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Discuss the short and long term ramifications
: Assume that Kevin has been working for you for five years. He has had an excellent work history and has received generous pay raises in response.
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What is a safety stock and when should it be used
: What is the difference between synchronous manufacturing and just-in-time manufacturing? Compare how each affects scheduling and controlling. How can a global organization begin to rely on these methods to become more competitive and efficient?
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