SOCI 2F60 Lecture Notes - Walmart, Total Quality Management, Abstract Window Toolkit

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Date of midterm february 18th 5-7pm. Lean production at the lowest possible costs and that involved a flexible workforce and people. Company used to keep 100s of millions of dollars in inventory. You need huge buildings to store that inventory and you got money tied up and equipment that won"t. Just in time inventory systems be used for a couple of months. Steve jobs is a good example, you should never let failure kill you. Steve jobs started apple and board of directors replaced him as the ceo. With company founder, jobs started up a new company. Midas touch when it came to business. Apple wasn"t doing so well so they asked jobs back. When he got back, he discovered that apple had two months of inventor. We got the supplier another two days. Employees are talked to be sensitive quality of product. We call that tqm total quality management.

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