16 - Just-in-time Systems- improvising profits and return...

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Chapter 11 – Production and Operations Management Strategic Importance of The Production Function A vital function is necessary for generating money to pay employees, lenders, and stockholders. Effective production and operations management can: o Lower a firm’s cost of production Implementing the Production Plan Make, Buy, or Lease Decision Selection of Suppliers o Based on comparison of quality, prices, dependability of delivery, and services offered by competing companies Inventory Control Inventory Control- perpetual and vendor-managed inventory
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Unformatted text preview: Just-in-time Systems- improvising profits and return on investment by minimizing costs and eliminating waste thru cutting inventory on hand Computer-based production planning system by which a firm can ensure that it has the correct materials for production Gantt Chart PERT Diagram Dispatching & Follow-up Dispatching- manager instructs each dept. on what work to do and the time allowed for its completion Follow-Up- employees and their supervisors spot problems in the production process ISO Standards Importance of Quality...
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