MGT 301 Study Guide - Midterm Guide: E-Procurement, Petty Cash, Navigability
Document Summary
1990s sc combined: quick response (qr)- speed and flexibility, efficient consumer response (ecr)- speed and flexibility, jit- continuous reduction of waste, keiretsu relationships- including suppliers in jit/tqm efforts. Quality is necessary element and outcome of jit to achieve low cost, high quality, and reduced lead time. Synchronization of material flows within the organization. Channel integration- extending partnerships in the supply chain. Scm seeks to incorporate lean elements by: cross-training, satisfying internal customer demand, quickly moving products in the production system, communicating demand forecasts and production schedules up the sc, optimizing inventory levels across the sc. Lean production: operating philosophy of waste reduction and value enhancement. Key concepts in tps: muda- waste in all aspects of the production, kanban- signal card and part of jit, spc as part of tqm efforts, poka-yoke- error or mistake-proofing. Reduce costs and add value by eliminating waste from production. Waste encompasses: wait times, inventories, material and people movement, processing steps, variability, non-value-adding activity.
