What is muda & what are the types of waste in lean manufacturing? Q): What is zero base inventory, give example?
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Subject: Logistic management
Q): What is muda & what are the types of waste in lean manufacturing?
Q): What is zero base inventory, give example?
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- What Companies Use JIT Inventory Management?Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) $60.00 per hour $19 per unit 1,040 units/day 33,000 (300 days x daily demand of 110 units) Q = 260 units a) Setup cost = $ b) Setup time = (round your response to two decimal places). minutes (round your response to two decimal places).Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) $60.00 per hour $11 per unit 880 units/day 36,000 (300 days x daily demand of 120 units) Q=220 units a) Setup cost = $ (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places).
- Explain the concept of just-in-time inventory management and its relationship to the lean production concept.SLO-2.1 Despite the increased use of JIT systems, there are several benefits or advantages to having inventory, they include: A) Make possible smooth and efficient operations by decoupling individual segments of the total operationB) Inventories of parts and components produced in-house facilitates economical production runs in various machine-assembly stationsC) Provides “safety” stock for supply interruptionsD) Finished goods inventory help the marketing/sales department satisfy unexpected customer demand to avoid stockoutsE) All of the above SLO-2.3 Which of the following is not a definition of Supply Chain Management (SCM)? A) SCM is an integrating philosophy to manage the total flow of a distribution channel from supplier to the ultimate customer.B) SCM encompasses integrative management of the sequential flow of logistical, conversion and service activities from vendors to ultimate consumers necessary to produce a product of service efficiently and effectively.C) SCM is a…What is level scheduling?
- 1. can you describe push inventory system that are called “push system?” is one system better than the other, in your view do you think all industries have a choice in where they can use a push system or a pull system?The SAR company distributes a wide range of electrical products. One of its best selling item is a standard electric motor. The purchasing cost of each electric motor is $100. The management of the SAR company uses the Economic Order Quantity (EOQ) decision model to determine the optimal number of motors to order. Management now wants to determine how much safety stock to hold. Moreover, the SAR company estimates annual demand (320 days to be 64,000 motors). The lead time for an order is 1 week. The annual holding cost of one motor is $15. The ordering cost is $6,400 per purchase order. Management has to estimate that the additional stock-out cost is $30 for each motor they are short. Moreover, the company has a minimum required return on investment of around 5%. The SAR company has analyzed the demand during 100 past reorder periods. The records indicate the following pattern Demand (units) during lead time Number of times quantity was demanded 1200 10 1300 15 1400 50 1500 20 1600 5Problem 2: Perkins Lighting wishes to employ a kanban in their new floor lamp production system. For the floor lamp base, they have provided the following information: Daily demand 300 units Holding cost $20/unit/year Order cost $10/order Lead time 2 days Safety stock 600 units Find the size of the kanban and the number of kanbans required.
- Inventory records show the following: Series Q R S --== Unit Cost $1,751.34 $462.00 $88.44 $382.73 $96.42 $38.04 $34.23 Count 6 22 63 14 24 51 17 Calculate the usage values of the series and determine which is most likely to be classified as class AIn a short article on Pros and Cons of Re-Order Control and Cycle Inventory Tracking Systems, please clarify it to me.Justify why a reduction in setup time will result in a reduction in the average amount of inventory held by a business.