Capacity Planning – Meaning, Classification and its Goals
February 12, 2025
Hammer and Champy’s concept of Business Process Re-Engineering depends on harnessing technology to optimize processes as its main driver. To understand why technology is imperative for BPR, let’s first review what BPR does. What is BPR? “BPR is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical contemporary measures […]
What Is Sigma ? Sigma or standard deviation is a statistical measure of dispersion in data. It is a measure which uses the characteristic of past data to make judgements about how the process will perform in the future. If a given set of data has normal probability distribution then the number of defects that […]
Inventory is a necessary evil in any organization engaged in production, sale or trading of products. Inventory is held in various forms including Raw Materials, Semi Finished Goods, Finished Goods and Spares. Every unit of inventory has an economic value and is considered an asset of the organization irrespective of where the inventory is located […]
The Surging Protectionist Sentiment There is a surge of protectionism and populism worldwide. From President Trump’s Protectionist Rhetoric and his America First and Make America Great Again slogans to the rise of Anti Immigrant sentiment in Brexit Britain and the latent hyper nationalism in other countries around the world, there is a backlash against globalization. […]
Cash management module provides information relating to cash flow of the organization, by processing and analyzing all cash and bank transactions, arising out of payment of supplier’s invoices, receipt from sales invoices, stand alone payment and unallocated payment/receipts. Cash management module also allows analyzing financial transactions for a given period of time and provides information […]
Manufacturing has evolved considerably since the advent of industrial revolution. In current global and competitive age, it is very important for organization to have manufacturing practice which is lean, efficient, cost-effective and flexible.
World class manufacturing is a collection of concepts, which set standard for production and manufacturing for another organization to follow.
Japanese manufacturing is credited with pioneer in concept of world-class manufacturing.
World class manufacturing was introduced in the automobile, electronic and steel industry.
World class manufacturing is a process driven approach where various techniques and philosophy are used in one combination or other.
Some of the techniques are as follows:
Idea of using above techniques is to focus on operational efficiency, reducing wastage and creating cost efficient organization. This leads to creation of high-productivity organization, which used concurrent production techniques rather than sequential production method.
World class manufacturers tend to implement best practices and also invent new practices as to stay above the rest in the manufacturing sector.
The main parameters which determine world-class manufacturers are quality, cost effective, flexibility and innovation.
World class manufacturers implement robust control techniques but there are five steps, which will make the system efficient. These five steps are as follows:
There are three main principles, which drive world-class manufacturing.
The main aspects of the world-class manufacturing are as follows:
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