Question

Consider the following terms from chapter 7, 8 and 9. Select three of the items and briefly describe in your terms and give a practical example:

1. Service Bluepring

2. Poka Yoke

3. Yield Management

4. Time Fence

Answer 1

Answer:

Poka-yoke:

Poka Yoke is mostly a Japanese word that showsmistake-proofing or unintentional mistakes or error prevention. This can be characterized as any progression in any of the exercises that can be useful for the administrator of the machine or procedure to overcome any kind of error or mistake.

Example: Most of the lifts have weight sensors and when the heaviness of the individuals turns out to be more than the allowed extend, it prevents operation and gives alarms.

Yield management:

It can be characterized as an pricing strategy that relies upon a better understanding, anticipating, and influencing the conduct of the clients with the goal that the income or the benefit can be expanded from fixed or time-constrained resources.

Example: Giving discounts to the last moment empty seats in the flight

TIme Fence:

TIme Fence can be characterized as the limitations of different time periods in a given planning horizon. A short term locale is characterized by it inside which the costly interruptions can be limited with the assistance of arranging limitations to the supplier plans.

Example: The demand time fence can be of 3 weeks for a specific item.

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