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Comparison of Conventional and JIT Wisdom
JIT philosophy
Ideal lot size is 1
Balanced production is best
Inventory is wasteful
Eliminate waste
Handle only some
Reduce or eliminate
variability
Conventional wisdom
Large lots are efficient (keep machines working)
Faster production is more efficient - scheduling is
necessary
Inventory is necessary
Waste occurs
Materials handling is necessary
Scheduling is necessary - there is a trade off
between utilisation and performance
Janet decides to play a game with her children, Jay and Jill (who are fraternal twins) and Mo. Each child is in their own room and cannot communicate with each other. Suppose Jill
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Describe the situation facing Mensa at time of the case. This should include major issues facing the company and the decisions that need to be made.
Question: Strategy implementation can be said to consist of securing resources, organizing these resources and directing the use of these resources within and outside the organ
Adelphi is situated in a large regional centre about 100kms from the capital city. It has a population of 150,000 in the regional city itself and the surrounding area, predominantl
(A) What is the optimal solution, i.e., how many units of every watch should be formed to maximize daily profits and how much daily profit will the company create? (B) How m
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advantages and disadvantages of strategic planning
Q. Market based approaches? Cost based approaches to transfer pricing can ignore what external competition would charge, therefore 'open (external) market price' could be used
Q. Show the Budgetary planning ? A budget is a forecast and quantified plan of action. Budgetary planning creates a budget like a part of the planning process for the organisat
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