Figure illustrates the analogy of a boat hitting rocks as the level of waterfalls. Why is water a good analogy for inventory? Is the sequence in which rocks are encountered a good way to prioritize inventory reduction activities? How might this prioritization scheme differ from one used in an accounting department?
Answer to relevant QuestionsWhy is achievement of the following goals critical to the success of lean systems? Give an example of how each area contributes to the success of a lean system. a. Setup time and cost reduction b. A relatively stable shop ...How would a restaurant use the 5-S program? How would an operating room using this program? Consider products you consume. Identify purchases you have made from firms with the following market orientations: a. Make to stock: b. Make to order: c. Assemble to order: d. Engineer to order: In each case, describe ...Suppose a firm, in discussions with customers, learns that customers identify eight factors that they evaluate for every order they receive from suppliers. The firm then finds that its performance is 95 percent on six of ...Consider the purchase of a new mobile phone. How would you determine the total cost of ownership? What are the costs that you might incur before the purchase, during the purchase, and after the purchase?
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