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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
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what are the ethics of strategic management?
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