Characteristics of the manufacturing system, Business Management

The natures of the production process the product design and production planning and plant layout have signification affect on inventory policy.

a. Degree of Specialization and Differentiation of the products at various stages: The degree of changes in the nature of the product from raw materials to final product at various stages of transformation viz, final assembly, assembly and packing determines the nature of inventory control operation for example f nature of product remains more or less same at various stages of production then economics can be achieved by keeping the right balance of stock of semi finished product.

b. Process Capability and Flexibility : Process capacity is characterized by processing time of various operations e, g, the replenishment lead time ( length of delay in execution after issuance of a replenishment order) directly influences the size of inventory.

Similarly how rapidly and economically a system can adjust is production rate, shift production facilities from one operation to another and change equipment from one product to another determines the magnitude of flexibility. Inventory policy should towards balancing the production flexibility capacity inventory levels and customer service needs.

Posted Date: 3/26/2013 3:05:42 AM | Location : United States







Related Discussions:- Characteristics of the manufacturing system, Assignment Help, Ask Question on Characteristics of the manufacturing system, Get Answer, Expert's Help, Characteristics of the manufacturing system Discussions

Write discussion on Characteristics of the manufacturing system
Your posts are moderated
Related Questions
North Shore University hospital in Manhasset NY is part of the North Shore Long Island Jewish health system. The third largest non-sectarian health system in the US. The management

Explain what is meant by Matrix management and support your explanation with a schematic representation -   In simple words, Matrix management is a technique of administering

Question 1: a) Your supervisor and you have different expectations and you start to realise that poor communication is getting in the way of your progress. Discuss strategi

QUESTION 1 Failing to plan is planning to fail. (a) Describe four types of plans that can be designed for an effective management of quality. (b) For planning to be effec

could you please help me with my marketing assignment

Question 1: Devise a framework to analyse the business environment of the University of Technology, Mauritius (UTM), giving examples on how environmental components can affec

Question 1: (a) What is the purpose of the EIA process (b) Differentiate between the terms environment impact and environmental aspect (c) Do you think public participati

Question: "Although there may be general agreement from time to time on what constitutes best management practice, the theoretical ingredients will tend to vary. Management th

Marketing is responsible for determining the key characteristics which determine the quality of the product or service in the eyes of the customers. This may involve use of

QUESTION (a) (i) What is information overload? Illustrate your answer through a practical example. (ii) How could each of the factors below contribute to information ove