GMS 401 Lecture Notes - Lecture 11: Total Productive Maintenance, Marginal Cost, Safety Stock

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If you have good controls in place you should have fewer problems: has nothing to do with brining anything new or improving the products and delivering them to the market quickly. Goals: the ultimate goal is a balanced system. Smooth, rapid flow of martials through the system: eliminate disruptions, make system flexible, eliminate waste, continuous improvement (kaizen): always improving production by looking at what we can do to improve them. Sources of waste: overproduction, over processing, product defects, unnecessary transportation, unnecessary inventory, waiting time, employee underutilization, generally, things a good manager can control. Key elements of jit system jit is a philosophy. 99% people sa(cid:455) that the(cid:455) do(cid:374)"t ha(cid:448)e life (cid:272)o(cid:448)e de(cid:374)t (cid:272)o(cid:374)t(cid:396)a(cid:272)t (cid:449)ith e(cid:373)plo(cid:455)e(cid:396). Yes, because employer there to help me and i would help them to. They now have more skills and therefore ask for higher wages. If every worker was multi-functional worker then that would cost us a lot.

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