COMMERCE 1B03 Lecture Notes - Computer-Integrated Manufacturing, Enterprise Resource Planning, Lean Manufacturing
28 Apr 2013
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Research and development (r&d) work directed toward the innovation, introduction, and improvement of products and processes. An innovation is a new product or process that can be purchased. Put another way, an idea may lead to an invention, but it cannot be called an innovation until it is commercialized. Respondents indicated that the three most important objectives of innovation are to improve product quality, to increase production capacity, and to extend product range. Another way to work closely with suppliers to satisfy your customers" needs is to locate your production facilities near supplier facilities. That cuts the cost of distribution and makes communication easier. 15. Many of the major manufacturing companies (e. g. , microsoft) are developing new. This linking of firms is called supply chain management. We will briefly introduce you to this concept later in the chapter. facility layout the physical arrangement of resources (including people) in the production process.
