Question

Please Use your keyboard (Don't use handwriting)

MGT 322

I need new and unique answers, please. (Use your own words, don't copy and paste)

Critical Thinking

The global marketplace has witnessed an increased pressure from customers and competitors in manufacturing as well as service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace only those companies will be able to survive that will deliver products of good quality at cheaper rate and to achieve their goal companies try to improve performance by focusing on cost cutting, increasing productivity levels, quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).

Increased global competition leads the industry to increasing efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasing global economy, cost effective manufacturing has become a requirement to remain competitive.

To meet all the challenges organizations try to introduce different manufacturing and supply techniques. Management of organizations devotes its efforts to reduce the manufacturing costs and to improve the quality of product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firm’s leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).

Consult chapter 7 of your text book or secondary available data on internet and answer the following questions.

Question:

1. Why Companies adopted Lean Thinking and JIT model?
2. Discuss major types of Waste, companies has to keep in mind during production.
3. Assess the reasons for using lean thinking (suitable examples), what are the benefits from Suppliers to end users?
4. Due to COVID 19 emergency do you think agile supply chain is the right concept in this kind of situation? Give reason with example.

The Answer should be within 4- 5 pages.

The Answer must follow the outline points below:

• Lean Thinking and JIT Concept
• Agile Supply chain
• Their Main functions
• Reasons with suitable Examples
• Reference

____________

please complete my answer to be looonnnnnnggggg answer pleaseee ..... I need new and unique answers, please. (Use your own words, don't copy and paste)

Lean Thinking is a methodological aspect of business which aims to provide innovative ways to organisations about how to organise human activities to serve the society and help indivuduals add perspective to their lives and reduce wasted. The companies adopt lean thinking to reduce the wastage of human resource and increase the productive capacity of the employees working.

JIT Model or Just-in-time Model is an inventory management model wherein the different aspects of production like labour, raw material, etc., are refiiled at the exact time when it is ultimately required. This model is used by almost all the organisations as through this model thr production is kept uninterupted and there is no wastage of time while any factor of production is exhausted.

The major types of waste that a company has to keep in mind includes mainly the wastage of raw materials, wastage of labour resource, power supply. etc.

Lean Thinking plays an intregal part in every organisation. Every organisation intends to reduce the wastage throughout the production process. Every organisation wants to keep their potential employees and a very important way is to keep the employee satisfied with the job , working conditions, pay scale, etc. Employees play the most important role as most of the production process depends on them therefore, lean thinking helps the suppliers to the end users.

Agile supply chain is a process of product distribution that is concerned with quick delivery of products, early responses to the market, cost saving, high productivity with flexibility. At this point of the emergency of COVID-19 agile supply chain is very useful as the World is under lockdown and the market is facing serious issues of scarcity of the necessity items that are demanded. As under lockdown major companies are completely shut which has resulted in the reduction in production in alot of the sectors and the Economy around the World is facing massive drop and in some countries the Economy is running negetive. This is the time to adopt agile supply chain Worldwide to save the market from reaching recession.

Answer 1

Why Companies adopted Lean Thinking and JIT model?

Comapnies are adopting Lean thinkng and JIT model because Just in Time model focuses on increasing efficiency while lean thinking focuses on utilising efficiency to add value for customers as well as employees. While combining both can boost overall company performance to a new heights. Both the lean thinking and JIT model will lead to customer satisfaction through high quality goods and services and at the same time employee satisfaction that comes from active participation in various decisions at multi level.

Discuss major types of Waste, companies has to keep in mind during production.

Major types of waste that are produced during production are as follows:

• Transportation: Transportaion waste includes longer routes either for getting raw material from suppliers or reaching out market for selling goods or services.
• Inventory: Inventory waste refers to wasted or damaged raw material, semi finished or finished products. This type of waste generally arises due to extremely high level inventories or poor quality inventories.
• Motion: Motion wastes refers to waste of efforts in moving due to poor plant layout. These motion can be for capturing work material or tools.
• Defects: Defects means rework and rework means waste oftime, effort and material. Some defects are permanent and can not be eliminated by reworking.
• Overprocessing: Overprocessing waste includes unnecessary working on work material which can be eliminated by improving or changing processes. Overprocessing leads to high waste generation per fininshed good.

Assess the reasons for using lean thinking (suitable examples), what are the benefits from Suppliers to end users?

Lean thinking is used for following reasons:

1) Greater Productivity: Lean thinking will help companies to eliminate tasks that add no value to the product, service or processs. For example, elimination of idle time of workers or staff that is generated due to time spent on locating equipments, tools or semi finished products.

2) Eliminate Defects: Lean thinking helps to eliminate defects since it focus on making products right at first place everytime. Thus leaving no room for any kind of defects. For example, prototypes which are tested and analyzed from every view. Every possibility of failure is determined with a feasible fix.

3) Improved staff morale: Lean thinking improves staff morale as they are given cahrge of improving process, put their ideas in front of management. Staff get a feeling as if they are owners of their department.

4) Boost your bottom line: Lean thinking can boost your bottom line. Workers get a family feeling when their problems are listened and immediate action is taken to improve working environment. They are involved in decisions taken for improvement in processes.

Benefits from suppliers to end users:

• Suppliers will get order well in advance giving them sufficient time to complete the order.
• Smooth cash flow from suppliers to distributors and retailers.
• Greater productivity with greater efficiency and greater effectiveness.
• High quality products with minimum cost invloved leading to comparatively lower prices for end users.
• Timely and quality service to end users.

Due to COVID 19 emergency do you think agile supply chain is the right concept in this kind of situation? Give reason with example.

The agile supply chain basically refers to how well a supply chain entity operates on a daily basis through the use of responsiveness, competency, flexibility, and quickness.

The agile supply chain uses real-time data and updated information to have real-time data against demand forecast, which helps to improve the overall efficiency and productivity. COVID 19 emergency is a big threat to businesses and has a huge impact on demand and supply of goods and services. Agile supply chain is perfect for such times since it uses real-time data and updated information. This approach will provide demand forecasting accurately and give you achance to adjust your operations accordingly to have overall efficiency and productivity.

Another key benefit of agility supply chain is that it is focusing on avoiding potential shortages and eliminating excessively stocked inventory. This means smooth cash flow can be maintained which becomes necessity for emerging from situations like COVID 19 which has caused a significant drop in production of goods and services and their consumption as well.

So I think agile supply chain is the right concept in this kind of situation where market environment has changed drasatically in very less time. Agile supply chain van be the key to deal with economic threat created by COVID 19.