...defines the long term plans for the company, whereas the operations function focuses on specific competitive priorities in order to meet the organisations long term plan. Prime Bank of Massachusetts had decided on a long term plan for the bank focusing on customer services and they needed the operations function to implement this long term plan through planning & control systems, workers and quality. Problems such as not having enough phone lines for the 24 hours customer service could cause customers to become irritated if they cannot get through on the phone and therefore lose the bank customers, if the operations management put in enough phone lines to meet with the banks customers demand and ensure that calls are answered in a timely fashion this could increase customer satisfaction. (Class Notes – Chapter 2, Operations Management) Part 2 The operations management decisions that are involved in the operation of a bank are the workers and the layout of facilities. The bank needs to carry out a staff needs analysis. This will give the bank the information they need in relation to what staff they need and at what time of the day or night. In addition to this if the bank implemented the plans of James Rogers by adding the service of on line banking this may reduce the staff requirement in the bank as many of its customers may be able to carry out their transactions on the internet. In turn, if the online banking is put in place this may reduce pressure on the banks current...
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...For thousands of years, people have dreamt about flying. Many have tried, but it wasn't until the days of the Wright brothers at Kitty Hawk that Man was able to take flight. For the past hundred years, airplanes have been made safer and easier to use, although the events of 9/11 have recently made the Federal Aviation Administration (FAA) a tad more suspicious. We are at a point now where human flight is open to just about everyone, even the likes of flyboys Tom Cruise and John Travolta. Accordingly, it's become painless for someone to get their private pilot's license. By getting yours, you'll be able to take joy rides with your friends and family, take part in volunteer search and rescue missions, fly yourself to business meetings, and become an acrobat of the sky. Okay, maybe not. But here's how to get that precious license. requirements First of all, you must be at least 16 years old to get your student pilot certificate. You'll need to be 17 in order to receive the regular pilot's license. There's no age limit for you to fly, as long as you qualify medically. You must be in great health. Everyone who wants to be a pilot needs to pass a medical exam in the early stages of the process. Blind people with narcolepsy don't usually make good pilots. More on this topic later. Finally, you must have an adequate grasp of the English language, being able to read, speak and understand it perfectly (English is the international language used by all airports and control...
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...Risk Management JIT 2 Task 1b American International Insurance BCP William Gardner May 9, 2015 Task B. Create a business contingency plan (BCP) that the company would follow if faced with a major business disruption (e.g., hurricane, tornado, terrorist attack, loss of a data center, the sudden loss of a call center in a foreign country, the collapse of a financial market or other catastrophic event) in which you include the following: 1. Analyze strategic pre-incident changes the company would follow to ensure the well-being of the enterprise. 2. Analyze the ethical use and protection of sensitive data. 3. Analyze the ethical use and protection of customer records. 4. Discuss the communication plan to be used during and following the disruption. 5. Discuss restoring operations after the disruption has occurred (post-incident). Since 1919, A.I.I. has been in the business of insuring businesses and people from losses incurred through disasters. For 95 years (A.I.I.) has stood by its clients as they faced many challenges from the financial collapse of 1929 to the drought of the dust bowl years and even the ravages of World War Two. Assisting our clients in the face of hurricanes, tornados and even terrorist attacks is an everyday occurrence at A.I.I... However, who is planning and preparing for A.I.I.? A BCP is a plan to do exactly that, during the financial collapse of 2008 several flaws in the existing plans were exposed; flaws that not even the...
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...Jaskanwal Singh Mand et al., 2013 ISSN 2319-345X www.ijmrbs.com Vol. 2, No. 1, January 2013 © 2013 IJMRBS. All Rights Reserved APPLICATION OF LEAN AND JIT PRINCIPLES IN SUPPLY CHAIN MANAGEMENT Chandan Deep Singh1, Rajdeep Singh1, Jaskanwal Singh Mand1* and Sukhvir Singh1 *Corresponding Author: Jaskanwal Singh Mand, mandjaskanwal@yahoo.com Supply Chain Management is a set of synchronized decisions and activities utilized to efficiently integrate suppliers, manufacturers, warehouses, transporters, retailers, and customers so that the right product or service is distributed at the right quantities, to the right locations, and at the right time, in order to minimize system-wide costs while satisfying customer service level requirements. SCM leads to a proficient way of doing things completely. Lean manufacturing and JIT play an importunate role in better functioning of SCM. Some of the lean manufacturing principles are: JIT inventory principle, JIT production principle, JIT human resource principle, JIT quality principle, JIT supplier relation principle, The present research involves role of lean manufacturing and JIT principles in SCM. Keywords: SCM, JIT, Lean manufacturing origin of the concept of lean or lean thinking cannot be easily assigned to any one person, company, INTRODUCTION Supply Chain Management (SCM) is a set of synchronized decisions and activities utilized to efficiently integrate suppliers, manufacturers, warehouses, transporters, retailers...
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...JIT Inventory Helping manufactures | Smiley II, Reginald Keith Jerome Bus 255 | JIT Inventory Helping manufactures | Smiley II, Reginald Keith Jerome Bus 255 | Reginald Smiley II Professor Thomasson Bus 255 November 24, 2014 JIT Inventory Helping Manufactures The globalization is forcing firms to be more careful about customer satisfaction and profit maximization. Logistics is one of the key tools that builds cost and service advantages to the firms. On the other hand, Just-in-Time (JIT) management approach, which is effective in the manufacturing sector in particular might be applied to the firms as a chance to achieve cost and service advantages through logistics. When the firms focus on the JIT for business processes but not products, the management principles of the JIT can be applied to logistics. JIT is an inventory management system based on placing smaller, more frequent, inventory orders. JIT can quickly reveal areas that need improvement, improve efficiency and productivity, free up additional workspace and free up more working capital. JIT inventory has helped manufactures be able to preserve parts flow so that inventories do not build up at any phase of the manufacturing process, allowing expeditious development and requiring active management of the production procedure. Just-in-time (JIT) inventory refers to an inventory management system with objectives of having inventory readily available to meet demand, but not to a point of excess where you...
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...ANZAM 2009 Manager’s Degree of JIT Involvement, Locus of Control and Managerial Performance Journal: Manuscript ID: Manuscript Type: 23rd Annual Australian and New Zealand Academy of Management Conference draft Paper just-in-time < 15. Technology, Innovation and Supply Chain Management, manufacturing technology < 15. Technology, Innovation and Supply Chain Management, operations management < 15. Technology, Innovation and Supply Chain Management, performance measurement < 15. Technology, Innovation and Supply Chain Management Keywords (Select the keywords for the Track(s) which you have selected on the previous step): Page 1 of 25 ANZAM 2009 Manager’s Degree of JIT Involvement, Locus of Control and Managerial Performance ABSTRACT The competitive global environment has lead many firms into adopting practices that focus on eliminating inefficiencies across the enterprise and its supply chain. The Just-in-Time philosophy is one such practice, however, research has predominantly focused on its technical features and on organisational variables, with surprising little research at the individual level. This paper examines JIT at an individual level and argues that the manager’s locus of control orientation would interact with their degree of JIT involvement to affect managerial performance. The results of a survey of 60 managers employing JIT, demonstrate that an increased degree of JIT involvement leads to a more positive effect on managerial performance for...
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...Operation Management Assignment Declaration of Plagiarism Table of contents:||||| 1.0| Introduction||||| 2.0| Operations Management||||| 3.0| Toyota Production System (TPS c ) |||| | 4.0| Just in Time Inventory Management||||| 5.0| Lean Manufacturing||||| 6.0| Supply Chain Management||||| 7.0| Conclusion||||| References||||| 1.0 Introduction The success of Toyota Motor Company is due to the unique reduction systems that focus on continuous improvement and just in time management. Toyota has created a decentralised structure that encourages employee participation and team working. Toyota incorporated concepts just as supply chain management and inventory management to create high quality automobiles and gain a competitive edge in the highly competitive global automobile market. Toyota’s success and its lean manufacturing philosophy have been widely studied. The Toyota manufacturing system is centred on achieving a high level of productivity. The company has a unique approach to problem solving and it continuously trains its employees. The Toyota Production Systems is based on the lean manufacturing philosophy that seeks to minimize wastages and centres on cost reduction. The Toyota manufacturing philosophy emphasises on quality management through a process of continuous improvement. This report looks at how Toyota created its manufacturing system and the role of operation management techniques...
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...TABLE OF CONTENTS 1.0 INTRODUCTION 2 1.1 The importance of Just In Time (JIT) 2 1.2 The Objectives of the study 3 1.3 The Research Methodology 3 2.0 LITERATURE REVIEW 5 2.1 The Definition of JIT 5 2.2 The Purposes of Just In Time 10 2.3 The Importance Elements In JIT Implementation 12 2.4 Difficulties and Issues Associated with Implementation of JIT Components. 23 2.5 Main Issues and Difficulties of Managerial Nature in JIT 30 2.6 The Benefits of JIT 34 2.7 The Limitation of JIT 36 2.8 The Relationship Model and Supporting Activities of JIT, TQM AND TPM 41 2.9 The Relationship between JIT Production and Manufacturing Strategy and their Impact on JIT Performance 43 3.0 FINDINGS 50 4.0 CONCLUSION AND RECOMMENDATION 59 REFERENCES 61 APPENDIXES 64 INTRODUCTION The Importance of Just In Time (JIT) Nowadays, companies used Just In Time (JIT) systems control work flow by bringing in materials and sending out goods on demand which is ideally, just enough to provide what consumers want. JIT also is a production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand. In just in time manufacturing system inventories are reduced to the minimum and in some cases they are zero. Companies typically hold inventory in three locations which are raw materials, work-in-process inventory of partially worked materials or sub-assemblies for workstations to complete...
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...indirectly, in fulfilling a customer requests (Chapora, S. & Meindl, P. 2013 P1). In order to meet customer demands efficiently management use strategic initiatives. These strategic initiative have a common goal which is to achieve long term competitive leverage but with each initiative having a different focus to attain that goal. The following are the strategic initiatives: EFFICIENT CONSUMER RESPONSE (ECR) ECR dates from as far back as the early 1990s when it was started; it was mainly designed to have an efficient response to the demand of consumers for grocery products. The main focus of improvement for ECR is on demand, supply, enabling technology and integration. All the parties involved in the supply chain follow the ECR initiative to analyze the market so as to understand the consumer demands and eventually come up with the most effective way to respond to these demands. Furthermore, the supply management monitor stocks and work at coming up with the most responsive method of replenishment. JIT/LEAN SYSTEM JIT was originally called Toyota Production System and it is associated with Japanese management techniques. JIT aims at eliminating waste by brining a product when is needed to satisfy a need. With JIT organizations aim at keeping little or no inventory except for what is required to satisfy a need. Lean is a westernized version of JIT as it aims at measuring and reducing inventory and streamlining production. AGILE OPERATIONS Agile operations are concerned...
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...of Management Accounting Research Edited by Christopher S. Chapman, Anthony G. Hopwood and Michael D. Shields r 2007 Elsevier Ltd. All rights reserved Management Accounting and Operations Management: Understanding the Challenges from Integrated Manufacturing Allan Hansen and Jan Mouritsen Copenhagen Business School, Denmark Abstract: Innovations in operations management, like just-in-time, total quality management, automation, have produced a new manufacturing paradigm that challenges management accounting design and practices. The new manufacturing paradigm, which we conceptualise as integrated manufacturing, focuses upon the lateral flow of products and services, and thereby confronts management accounting ideals of hierarchical flows of information for planning and control. In this chapter, we take a closer look at management accounting research and the responses that have been made to the challenge from the new operational practices. We examine the extent to which changes in management accounting practices are observed, and the way in which design changes are recommended within organisations committed to the new manufacturing paradigm. Furthermore, we reflect upon the role of accounting as a management tool in integrated manufacturing, and on possible future research questions, so as to enrich our knowledge of the management accounting/operations management interface. Introduction Innovations in operations management (OM) have challenged management accounting...
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...WHAT IS THE REASON OF HARLEY DAVIDSON GOING THROUGH ROUGH YEARS IN 80'S? AMF was known for its leaking engines, unreliable performance, and poor customer service. Taken together, AMF’s heavy handed management style, labor hostility and the Milwaukee strike, all contributed to the decline in the quality of Harley Davidson motorcycles. WHILE HD DEALING WITH DIFFICULTIES, WHAT KIND OF CHANGES CONTINUED IN THE INDUSTRY? While Harley bikes experienced growing quality problems, Japanese bike manufacturers were steadily expanding their reach into the high end motorcycle market. As a result, Harley was selling more motorcycles than ever before, but at the same time, it was losing market share to better quality and less expensive Japanese machines; between 1973 and 1981, Harley’s share in the super heavy segment of industry, the company’s strongest market dropped from 78 % to 30 % and a year later, its share in the heavy segment fell below Honda’s , 30 % against 34%. It was at this point that AMF management decided to put its troubled Harley Davidson up for sale. 1982-83 and 1984 were rough years because Japanese manufacturers like Kawasaki, Suzuki and Honda began selling in the US in increasing numbers and were able to build bigger bikes at lower costs. And this began to tell on Harley-Davidson's balance sheet. The company’s market share in the United States had fallen to 3 percent, primarily because its products were unreliable and had poorer performance relative to less...
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... The cost management in the production phase starts after mass production has begun. Firstly, these costs and standard times are not always met in production lines at least for the first few months, because workers are not used to working in the new system, and also because installations often break down. At Toyota, the learning effects seem to appear almost three months after the launch of new production. If the referential cost is not reached despite learning effects, then kaizen activities in order to reduce the cost or new drawings will be tried. Secondly, when the target profit for each vehicle is not realized efforts have to be devoted on the one hand to increasing sales and on the other to cost reduction. kaizen activities for cost reduction are imperative. At Toyota, the costs to be managed in the Production Divisions consist of materials (including purchased parts, tools and energy) costs and labor cost. TPS (TOYOTA PRODUCTION SYSTEM) is the essential framework and philosophy organizing Toyotafs manufacturing facilities, and the interaction of these facilities with the suppliers and customers. Its main objective is to eliminate Muda, (waste), a term now familiar even with its American subsidiaries. As quoted by Bruce Bremer, facility engineering manager at Toyota, he said. An important part of the TPS is the Just-in-Time (JIT) inventory system, which all of Toyota manufacturing facilities are required to inculcate into their production lines. The JIT technique...
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...JIT The just-in-time (JIT) inventory method is an approach where materials, parts, and other goods are ordered only in quantities required to meet immediate production needs. These items are then carefully scheduled to be received at precisely the time they are needed. This increases efficiency, reduces waste, and ultimately minimizes inventory carrying costs. JIT was developed in Japan and is also known as the Toyota Production System. Disadvantages of JIT There is little room for mistakes as minimal stock is kept for re-working faulty product Production is very reliant on suppliers and if stock is not delivered on time, the whole production schedule can be delayed There is no spare finished product available to meet unexpected orders, because all product is made to meet actual orders – however, JIT is a very responsive method of production Advantage: Reduced setup time. Cutting setup time allows the company to reduce or eliminate inventory for "changeover" time. Small or individual piece lot sizes reduce lot delay inventories, which simplifies inventory flow and its management. Employees with multiple skills are used more efficiently. Having employees trained to work on different parts of the process allows companies to move workers where they are needed. Production scheduling and work hour consistency synchronized with demand. Increased emphasis on...
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...are attached: • Final cumulative balanced scorecard ending with Quarter 4. • Income Statement from the Quarter 5 performance report, showing quarters 1 through 4 results. • Balance sheet from the Quarter 5 performance report, showing quarter 1 through 4 results. B1 A budget is an itemized summary of what a business’s income and expenses will be for a given period of time, while allowing the business during this period to determine if they are able purchases items based on their budget. It’s an important tool that is used by management to help prioritize their spending and manage their money and allow them to identify any wasteful expenditure, respond quickly to any financial changes and to achieve their financial goals. A pro forma statement is a financial projection during a specific time period that businesses can use to make decisions in regards to planning and control and for reporting to external owners, investors and creditors. Management can use them for comparison and analysis under various conditions and it can help minimize the risks that are associated with starting and running a new business. The key to a pro forma statement is to have objective and reliable information in order to accurately project business profits and financial requirements. (Inc., 2013) In regards to the simulation, the budget and pro forma income statements were used to determine if there was sufficient cash to invest in expanding the plant capacity, along with opening addition sales...
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...statements were able to indicate to me that by increasing production, and spending the extra money to do so, I would better be able to meet the supply and maximize profits. The pro forma and budget statements were extremely instrumental in the success and continued growth of my company. I saw the bottom line change significantly as I changed my process based on the statements provided. Improving Operating Efficiency Using Just-in-Time and Lean Operations: Just In Time: The Just In Time approach to manufacturing emphasizes forced problem solving. It is a powerful strategy for improving operations. With the JIT process materials arrive only when and where they are needed. In my mock company this would have effectively reduced costs and inventory as well. The JIT process would have cut company waste by not having excess inventory. Also, in the same respect, using the JIT process would empower cross trained employees and...
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