Question

what is the effect of implementing Lean Operations on performance an industry. how it should be written and structured in the form of a business report.

Could you please give a brief description and overview of the topic selected. This section may include examples, case studies or vignettes from real life operations that are sourced from both the academic (e.g. journal papers, manuscripts) and non-academic (e.g. economist, business week etc.) literatures.

Answer 1

Effects of implementing Lean Operations on performance an industry:

• Includes applying a set of practices that optimizes company’s the production processes
• Causes better modifications in the process of managing, evaluating, and controlling the overall financial processes and performance
• It affects positively on shrinking costs and eliminating different categories of wastes through the application of a variety of tools and techniques
• tools and techniques like just-in-time, value stream mapping, 5S, Kaizen, quality circles, Kanban, standard operation, continuous improvement, total quality management, cell layout etc. are implemented under Lean operations for seeking high performance in various industry functions
• It empowers the entire workforce to work towards improvement processes and better decision making
• It can save the transportation time and cost among multiple production locations
• It can provide accurate production information through the withdrawal and production cards, avoiding overproduction and underproduction, determining the precise quantities for production
• It can avoid the needless costs of defective parts
• Driving a healthier return of investment (ROI) to the firm
• The balanced scorecards can be used for driving innovation, learning, improving the internal processes, enduring better customer satisfaction
• Just In Time system reduces the inventory investment, inventory carrying cost, insurance cost and go down cost