Challenges Of Growing Global Business Environment Essay

1570 Words7 Pages
Introduction: Productivity is the ability of an organization to utilize its own available resources in order to produce profitable goods or services as desired by its customers or clients. Productiveness helps to increase the overall efficiency of any organization. Once the efficiency of the organization increased, the production capacity of the organization is utilized to the optimum level. Thus, all available resources are used in an efficient and effective manner to get the best possible results. Increased production lowers the cost per unit of the product which in turn, results in reliable prices for better quality, which also enhances a business’ competitive advantage in the market. Productivity improvement techniques and tools: To increase the productivity of manufacturing units different tools and techniques are available such as Just-In-Time (JIT),5S,Bottleneck Analysis, Jidoka (Autonomation), Kaizen (Continuous Improvement),PDCA (Plan, Do, Check, Act) and Root Cause Analysis. JUST IN TIME: In the present market scenario of growing global business environment, the main goal of all manufacturing companies is to survive in a market for a long term. A manufacturing industries probability of surviving is mainly depends on its ability to produce highest quality goods at lowest possible price and with shortest possible cycle-time. Just-In-Time (JIT) manufacturing, it is a Japanese management philosophy applied mainly in manufacturing which involves to have the right
Get Access