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Exam2 - FC2 - The flashcards are formatted for printing...

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Just-in-Time (JIT) Just-in-Time (JIT)
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Often mistakenly thought of as just being “zero inventory” systems or “stockless” production systems; while reduction of inventor is one major aspect, it is not the only focus. A comprehensive philosophy that advocates elimination of waste, simplification of operations, continuous improvement, customer orientation, and employee
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involvement.
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Inventory” Just-in-Time (JIT)
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Formulated on the premise that, although inventory can serve some very useful functions, it can also be a detriment to efficient operations. The big focus of JIT systems, since too much of it can hide underlying problems.
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Movement of the Boat Just-in-Time (JIT)
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Continuously improving operations. In the classic JIT analogy, it represents the flow of operations.
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Water Level Rocks
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In the classic JIT analogy, it represents the impediments to the smooth flow of operations (problems lurking below the surface). In the classic JIT analogy, it represents the inventory level.
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Inventory Level Inventory Level
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As long as it’s high enough, it doesn’t matter what the impediments are (i.e. if there’s a wheel axel defect, you can just pull out another one, BUT you are ignoring the underlying To find and fix underlying problems, you must reduce ____, but not so much as to impede production.
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problem).
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Just-in-Time (JIT) Impediments
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If you lower the water level to expose problems, you must reduce ____ and start the process again. Suggest that lowering the level of inventory in a system will reduce the inventory investment and perhaps more importantly, expose problems.
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Manufacturing Setup Cost Economically Justify
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We cannot simply lower lot sizes to lower inventory because of EOQ, and must make some changes that will ____ reductions in order size. The parameter of the EOQ that can be altered to economically justify lower lot sizes.
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Manufacturing Setup Cost Ordering Cost (S)
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i.e. manufacturing setup cost The cost is typically related to the amount of time it takes to perform the setup; the longer the time, the more the cost of the workers involved in performing the setup and the greater the
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disruption to operations.
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Process Just-in-Time
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