ITM 410 Lecture Notes - Lecture 8: Vendor-Managed Inventory, General Ledger, Automated Guided Vehicle

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 410
• Professor: Hesham Saadawi

Document Summary

Manufacturing is a quick way for developing countries to increase their wealth and increase the wages of their citizens. Global competition has forced domestic companies to become more customer-focused and efficient in order to survive. Such efforts have led to marked improvements in domestic productivity. Key drivers of complexity and key characteristics of success. There are 3 key drivers of complexity in manufacturing operations: pressure to reduce costs throughout the value chain, pursuit of new lucrative markets and channels, the quickening pace of product innovation. Below are key characteristics of firms that successfully manage global complexity: Improved internal business processes in the areas of customer, products, and supply: better use of tech to increase integration with and among these areas above, better general capabilities in the areas of collaboration, flexibility, visibility, and technology. Designing innovative products and getting them to market quickly is key for being competitive in today"s complex global manufacturing environment.