OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
7th Edition
ISBN: 9781259326738
Author: SCHROEDER
Publisher: MCG
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Chapter 7, Problem 5DQ
Summary Introduction
To determine: The effect of stable and unstable master production
Introduction:
Lean systems in an organization would have greater impact on the customers and their values. The goal of lean thinking is to improve the productivity of the department, and the goal for any lean system is to maximize the customer value.
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Chapter 7 Solutions
OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
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- Given D-6400 units per year, Co- $ 100 and Ch- $ 2 per unit. Calculate the minimum cost production lot size for each of the following production rates.arrow_forwardHow can lot sizes and inventories be reduced in a lean production system? Discuss specific approaches.arrow_forwardWhat is the lean synchronisation principle?arrow_forward
- Why is value stream mapping such an important first step in a company's transition to a lean operations approach?arrow_forwardif a company moves to a JIT inventory management system, what will happen to inventory turnover? what will happen to total asset turnover and ROE?arrow_forwardCompanies want to be lean to save on Inventory cost. What do you understand by being lean. Does being lean affect productivity?arrow_forward
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- 4. (a) Despite Toyota having shared its philosophy and the practices of lean operations with numerous organizations across the globe, most of the organizations have not been able to successfully replicate the practices of lean operations. What could be the possible reasons behind the same? Answer in brief. (b) Suppose a commercial bank wants to introduce a lean system in its operations. Suggest a suitable roadmap for the same in brief. (c) What kind of aggregate planning strategies are normally adopted by an automobile organization like Maruti Suzuki Ltd.?arrow_forwardOperations Management Hinge Manufacturing Company employs a Kanban system for a component part. The daily demand is 900 hinges. Each container has a wait time of 0.05/day and a processing time of 0.37 days. The Container size is 60 hinges and the safety factor (a) is 10%. A: How many Kanban card sets should be authorized? B: What is the maximum inventory of this hinge in the system?arrow_forwardA metal fabrication shop has a single punch press. There are currently three partsthat the shop has agreed to produce that require the press, and it appears that theywill be supplying these parts well into the future. You may assume that the press isthe critical resource for these parts, so that we need not worry about the interactionof the press with the other machines in the shop. The relevant information here is: Part Number Demand/year Set up Cost ($) Cost per Unit ($) Production rate/year 1 2,500 80 16 45,000 2 5,500 120 18 40,000 3 1,450 60 22 26,000 Holding costs are based on an 18 percent annual interest rate, and the products are to be produced in sequence on a rotation cycle. Setup times can be considered negligible. What is the optimal lot size of part 2?arrow_forward
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