INTBUS 6 Lecture Notes - Lecture 18: Overproduction, Management System, Six Sigma
22 Oct 2020
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Document Summary
Just-in-time (jit): a philosophy of manufacturing based on planned elimination of all waste and on continuous improvement of productivity. In a broad sense, it applies to all forms of manufacturing and to many service industries as well. Lean: a philosophy of production that emphasizes the minimization of the amount of all the resources (including time) used in the various activities of an enterprise. It involves identifying and eliminating non-value-adding activities in design, production, supply chain management, and dealing with customers. To summarize: the lean philosophy can be applied to a wide range of production and service environments. It"s no surprise, then, that the business world has seen the advent of such approaches as lean six sigma and lean supply chain management. Waste: any activity that does not add value to the good or service in the eyes of the consumer. The following are eight commonly recognized sources of waste: overproduction.
