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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.
Elucidate how might principles of scientific management are useful to spring industries. Elucidate how about the quantitative approach.
1 identify and describe at least 5 metrics that you would use to assess the success of any logistics plan involving you
Suppose that you invest the $50,000 winnings that you receive today and earn 8% annually for the next 5 years. What is the future value of your total lottery payments?
Which of the following plans has the longest planning horizon and the least level of detail?
What type of challenges faced by many leaders of firms that have been forced to downsize lately. How do leaders continue to engage their employees in the face of layoffs and bad financial news?
Using your own experience also or resources, do you agree? Provide examples also supporting evidence from multiple sources to support your position.
How much safety inventory does the store carry? What service level does Sam's club achieve as a result of this policy?
Why did CMS become more involved in the reimbursement component of health care? How does their involvement impact health care organizations. What tools can be implemented to ensure an organization is meeting the policies and procedures set forth by..
A firm makes three products, A, B, and C and uses three different machines in the process: W, X, and Y. Weekly demand for products A, B, and C is 300, 250, and 150 units, respectively, while each machine is available 2,400 minutes per week.
Compare and contrast job descriptions and job specifications.
What are the most common methods of organizing prospect information?
Explain however, the cost to produce a can would be $0.07 also the distribution cost would be $0.04 per can. Over Illustrate what range of product would each plant be preferred.
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