Capacity Planning – Meaning, Classification and its Goals
February 12, 2025
FG Supply Chain consists of all activities involved in movement, storage and distribution of Finished Goods from the Delivery point of Plant to the Point of Sale. In the case of global supply chains, supply chain management gets more complicated with the variations arising out of different countries regulations and logistical practices. Computer Hardware supply […]
Brief Introduction about International Payments If you have shopped online on international portals or have received payments from abroad, you would have wondered about how the payments flow across the world and which banks and financial institutions underpin global commerce and trade. Further, if you work in a corporate that has global supply chains with […]
What is a Project Charter ? A Project charter is a 5 to 6 page document which collects all the information that has been developed in the previous steps and puts it in a central location. The Project charter serves as the constitution which governs the working of the project and disputes if any that […]
Profitable Tourism and the Implications for Corporates and Societies It is a known fact that Tourism is a money spinner for any country that has abundant tourist destinations. The market for worldwide tourism runs into the Billions of Dollars and all nations are eager to grab as much market share as possible. Further, Tourism is […]
Spotify, a music streaming application, with most of its business in the United States has achieved over a $30 billion valuation. This has come as a surprise for many given the fact that the music industry was considered to be all but dead because of declining revenues. An extremely high valuation in an industry with […]
Manufacturing has evolved considerably since the advent of industrial revolution. In current global and competitive age, it is very important for organization to have manufacturing practice which is lean, efficient, cost-effective and flexible.
World class manufacturing is a collection of concepts, which set standard for production and manufacturing for another organization to follow.
Japanese manufacturing is credited with pioneer in concept of world-class manufacturing.
World class manufacturing was introduced in the automobile, electronic and steel industry.
World class manufacturing is a process driven approach where various techniques and philosophy are used in one combination or other.
Some of the techniques are as follows:
Idea of using above techniques is to focus on operational efficiency, reducing wastage and creating cost efficient organization. This leads to creation of high-productivity organization, which used concurrent production techniques rather than sequential production method.
World class manufacturers tend to implement best practices and also invent new practices as to stay above the rest in the manufacturing sector.
The main parameters which determine world-class manufacturers are quality, cost effective, flexibility and innovation.
World class manufacturers implement robust control techniques but there are five steps, which will make the system efficient. These five steps are as follows:
There are three main principles, which drive world-class manufacturing.
The main aspects of the world-class manufacturing are as follows:
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