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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
Problem: Both person A and person B are purchasing bananas and apples from the same supermarket, where the price of a banana is $2 and the price of an apple is $1. Person A is curr
Comparison of Conventional and JIT Wisdom JIT philosophy Ideal lot size is 1 Balanced production is best Inventory is wasteful Eliminate waste Handle only so
Recommendation for future strategies, Strategic Management. Conclusion
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a) Examine core organizational values (ethical, cultural, environmental, social and business) with the present business objectives of an organization. b) Make appropriate vision a
what is strategi means
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
What Makes a Strategy a Winner? 1. Three questions are used to examine the merits of one strategy versus other & distinguish a winning strategy from a losing or mediocre str
Conduct an industry & a 5-Forces analysis for BOE/AIR. w/focus on commercial aircraft mfg (Hint: extend POV to travel preferences now & future, & review BOE/Air''s POVs on the indu
Question: a) (i) How many components are there in an ideal mission statement of a business organisation? (ii) Name these components? b) Using the above named component
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