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How are multi-skill staff and multipurpose machinery flexible?
Multi skilled operatives permit greater flexibility and economies of scope. For example quite than just being a miller or grinder or welder, operative employees could be trained to perform all three jobs. Such operatives can also be trained to accomplish routine maintenance onto equipment and machines, in order to diagnose and accurate routine problems earlier, quite than relying onto a specialised maintenance crews. All these techniques support and facilitate JIT production processes.
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What is the present value of $10000 to be received 20 years from now , if the principle is invested at 8% per year, compounded annually ?
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