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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
Question: (a) Firms are always looking to outperform each other; three generic strategies have been identified to allow them not only to attain advantages over competitors b
Protecting and strengthening the organization's position in its present markets by its current products
Whether, a strategy addresses the circumstances in which an company is operating
Q. Explain about Opportunity cost pricing? Opportunity cost pricing is considered most mathematically correct way of viewing transfer pricing. Reason is that it looks at transf
Q. Illustrate about Asset turnover - performance ratios? Asset turnover = Turnover / Total assets or Capital employed This shows how
describe triple triangle framework
What can middle managers do to moderate the distortions introduced by such biases?
Strategic management is a systematic analysis of the internal and external factors to develop strategic actions for organizational goals (Dobson & Richards, 2004). Bread Talk is a
Question : ‘The financial crunch has urged companies involved in tourism to reshape their business model' As a tourism business consultant and in the light of the above stat
Problem: You have just been nominated at the head of an IT firm and your first assignment is to prepare a strategic plan for the company. a) Give a brief overview of your
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