...Theory of Constraints The topic for my discussion on the Theory of Constraint is the team that handles rental properties for a real estate business. This includes homes as well as commercial properties for rent, from the perspective of the tenant and the landlord. The organization is a team of real estate agents that specialize in rental properties. The goal is to generate profitable revenue by ensuring the quota is met for lease contract agreements to go to settlement in the specified time. Throughput are the number of contracts for the lease of properties that have completed, settled, and funded. Inventory comprises of available rental properties that have been listed with the company, as well as landlords that are represented by agents of the company. Operating expenses include costs associated with the listing or showing of rental properties, such as open houses, advertising costs, and transportation of prospective tenants to the property. The bottleneck is the landlord’s approval and acceptance of the terms of the contract. This will be discussed in more detail in the five steps below. 1) Identify the system’s bottlenecks. Typically the landlord will want to maximize profit by listing the property for as much as possible. Regardless of the listing price being inline with the market area, or being overpriced, lease offers will often be less than the asking price. With lease offers from more than one prospective tenants require more time in their decision...
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...Captured by Plamen T. THE GOAL A Process of Ongoing Improvement THIRD REVISED EDITION By Eliyahu M. Goldratt and Jeff Cox With interviews by David Whitford, Editor at Large, Fortune Small Business North River Press Captured by Plamen T. Additional copies can be obtained from your local bookstore or the publisher: The North River Press Publishing Corporation P.O. Box 567 Great Barrington, MA 01230 (800) 486-2665 or (413) 528-0034 www.northriverpress.com First Edition Copyright © 1984 Eliyahu M. Goldratt Revised Edition Copyright © 1986 Eliyahu M. Goldratt Second revised Edition © 1992 Eliyahu M. Goldratt Third Revised Edition © 2004 Eliyahu M. Goldratt All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage retrieval system, without permission in writing from the publisher Manufactured in the United States of America Library of Congress Cataloging-in-Publication Data Goldratt, Eliyahu M., 1948The goal: a process of ongoing improvement I. Coxjeff, 1951-. II. Title PR9510.9.G64G61986 823 ISBN: 0-88427-178-1 86-12566 Captured by Plamen T. 1 INTRODUCTION The Goal is about science and education. I believe that these two words have been abused to the extent that their original meanings have been lost in a fog of too much respect and mystery. Science for me, and for the vast majority of respectable scientists, is not about...
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...Captured by Plamen T. THE GOAL A Process of Ongoing Improvement THIRD REVISED EDITION By Eliyahu M. Goldratt and Jeff Cox With interviews by David Whitford, Editor at Large, Fortune Small Business North River Press Captured by Plamen T. Additional copies can be obtained from your local bookstore or the publisher: The North River Press Publishing Corporation P.O. Box 567 Great Barrington, MA 01230 (800) 486-2665 or (413) 528-0034 www.northriverpress.com First Edition Copyright © 1984 Eliyahu M. Goldratt Revised Edition Copyright © 1986 Eliyahu M. Goldratt Second revised Edition © 1992 Eliyahu M. Goldratt Third Revised Edition © 2004 Eliyahu M. Goldratt All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage retrieval system, without permission in writing from the publisher Manufactured in the United States of America Library of Congress Cataloging-in-Publication Data Goldratt, Eliyahu M., 1948The goal: a process of ongoing improvement I. Coxjeff, 1951-. II. Title PR9510.9.G64G61986 823 ISBN: 0-88427-178-1 86-12566 Captured by Plamen T. 1 INTRODUCTION The Goal is about science and education. I believe that these two words have been abused to the extent that their original meanings have been lost in a fog of too much respect and mystery. Science for me, and for the vast majority of respectable...
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...THE GOAL 1 I come through the gate this morning at 7:30 and I can see it from across the lot: the crimson Mercedes. It's parked beside the plant, next to the offices. And it's in my space. Who else would do that except Bill Peach? Never mind that the whole lot is practically empty at that hour. Never mind that there are spaces marked "Visitor." No, Bill's got to park in the space with my title on it. Bill likes to make subtle statements. So, okay, he's the division vice-president, and I'm just a mere plant manager. I guess he can park his damn Mercedes wherever he wants. I put my Buick next to it (in the space marked "Controller"). A glance at the license as I walk around it assures me it has to be Bill's car because the plate says "NUMBER 1." And, as we all know, that's absolutely correct in terms of who Bill always looks out for. He wants his shot at CEO. But so do I. Too bad that I may never get the chance now. Anyway, I'm walking up to the office doors. Already the adrenalin is pumping. I'm wondering what the hell Bill is doing here. I've lost any hope of getting any work done this morning. I usually go in early to catch up on all the stuff I'm too busy to do during the day, because I can really get a lot done before the phone rings and the meetings start, before the fires break out. But not today. "Mr. Rogo!" I hear someone calling. I stop as four people come bursting out of a door on the side of the plant. I see Dempsey, the shift supervisor; Martinez, the union steward;...
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...indicate production status (for example, which machines are operating), an abnormality (for example, machine downtime, a quality problem, tooling faults, operator delays, and materials shortages), and needed actions, such as change overs. Five Whys The practice of asking why repeatedly whenever a problem is encountered in order to get beyond the obvious symptoms to discover the root cause. The specific number five is not the point. Rather it is to keep asking until the root cause is reached and eliminated. Heijunka Japanese technique of achieving even output flow by coordinated sequencing of very small production batches throughout the manufacturing line in a lean production or just in time (JIT) system. Jidoka Japanese term that provides machines and operators the ability to detect when an abnormal condition has occurred and immediately stop work. This enables operations to build in quality at each process and to separate men and machines for more efficient work. Jidoka is one of the two pillars of the Toyota Production System along with just-in-time. Jidoka highlights the causes of problems because work stops immediately when a problem first occurs. This leads to improvements in the processes that build in quality by eliminating the root causes of defects. Kaizen Japanese term for a gradual approach to ever higher standards in quality enhancement and...
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...I am long overdue on a review of this book, which I feel bad about because I really enjoyed it. Maybe I didn’t get to it because I was too busy multitasking… First off, this is written as a business novel. Lately, I have been really weary about business novels. For one, I’m not a novel reader and, since The Goal, the only business novels I’ve liked and gotten through are SHORT ones, including All I Need to Know About Manufacturing I Learned in Joe’s Garage: World Class Manufacturing Made Simple and The Ice Cream Maker: An Inspiring Tale About Making Quality The Key Ingredient in Everything You Do (my review here). This book, written by business coach Dave Crenshaw, tackles the idea of “multitasking” — that we can do two things at once. If you think about multitasking from a Lean perspective, you might think about the practices of Standardized Work. In a factory, standardized work assumes a person can really only do one thing at a time. At most, you might reach for a part with your left hand while simultaneously reaching for a tool with your right. But, this is a relatively simple task that, in a repetitive manufacturing environment, can be done without thinking and through a lot of muscle memory. In professional settings, we often trick ourselves into thinking we can multitask. While on conference calls, people play Minesweeper or surf the web. This works, except for when you realize you haven’t been listening or someone calls on you and you can’t answer — it’s embarrassing...
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... What is the difference between operations management and process management? Operation Management How the company manages its operation, shall be the key answer to it. In fact, Operation Management is one of the topmost important factor for a company’s success. Having said that, OM helps the organization to recognize “what are” the process, people, decisions, responsibilities and “how” the available resources can be utilized and maximized to deliver the goods or satisfactory services to the clients. Process Management A type of management that deals directly with the organization’s ways of aligning the series of activities involved in any of its operational process, with the aim to clearly define how the entire process is performing. One of the example of process management is “Business Process Management (BPM) . The main purpose of process management is to minimize errors due to human and reduces miscommunication and increase productivity. In your opinion why might it be necessary to have the two terms? Having this as a simple illustration, a client company (DEF) requires its supplier company (ABC) to send its ordered goods from KL to Penang in half a day time. As an Operation Manager of ABC company, Mr. Kuak plans what are needed for the delivery of the goods. He needs to get a driver in a pink of health and choose one of its best truck that’s capable to drive long distance. Where as, Mr. Lan the process manager, decides how the driving journey be conducted, which...
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...our custom Tier 1 supplier. The management of lower tier suppliers of general or generic components would be more effectively suited by the standard procedures used by Dell. If we at Ford could find a solution to the obstacles of virtual integration, it could make our supply chain run smoothly with less bottlenecking, inventory, and better overall performance. Managers could overcome the complex and error-prone manual process of forecasting and procuring parts which would result in reduced OTD lessen costs and enhance customer satisfaction. ISSUE IDENTIFICATION Senior Executives have asked how Ford should use the emerging information technologies and ideas from new high-tech industries to change the way we interact with Suppliers. We must find ways to improve the Supply Chain management and to increase shareholder value and Supply Chain responsiveness. Specifically we are looking at how Dell manages their Supply Chain and incorporates the virtual integration strategy. A decision is required before the next meeting with the VP of Quality and Process Leadership. ENVIRONMENTAL AND ROOT CAUSE ANALYSIS Ford’s Supply Chain is based on Vertical Integration and Outsourcing strategy, this has created a complex supply chain, increasing inventory and OTD (Order to Delivery Times)....
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...teams in creating the high level of economic value that together we redefine our respective industries. Our management consulting services focus on our client’s most critical matter and opportunities: Strategy, business operations and technology. Our areas of strategy consulting know-how include: • Fundamentals of growth: One in ten companies achieves sustained growth. We assist organization in defining and focusing on their centre. • Business unit strategy: Effective strategy requires making proprietary choice. The goal is to drive business to full economic potential. • Sustainability: Smith’s helps companies develop renewable energy policies, understand the full potential of recycling processes and recognize the influence of trends and regulations among other agendas. One of our most certain clients is DIF’s Enterprise. DIF’s Enterprise is located 11 ½ Cyril Place, Montego Bay. The organization is a travel agency business that makes the process of travel planning easier for their clients and ensures they experience the best trip possibly. They have over One hundred and fifty employees, within various departments and have been in operation for ten years but are currently facing...
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...Analyzing SAP ERP's success in TISCO The critical success factors of ERP systems mainly include proper implementation and usage. Beside this there are several other factors that decide the regular functioning of ERP in organizations. While many organizations have not incurred the necessary benefit in terms of money and other measures there are lots who have witnessed multiple profits. Studying them will help in understanding the critical success factors for ERP implementation. They will help in deciding ERP success. TISCO PROFILE This company founded and established in the year 1907 is known to be one of the leading steel giants in the country offering multiple products and successfully running many subsidiary corporations. Being a large entity does not stop things from being subject to scrutiny and internal audit. They are regularly implemented with the help of committees who report to the selected members from the senior management. The company is dedicated to providing laudable services to the stakeholders improve on the quality and as thrive for innovations and improvements constantly. BACKGROUND TATA steel is India’s largest integrated private sector steel company that started its corporate journey in the year 1907. Backed by captive iron ore and coalmines, Tata Steel runs state-of-the-art Cold Rolling Mill complex at Jamshedpur, Eastern India. The enterprise has undergone a modernization programme costing $2.3 billion, resulting in production of steel at...
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...documents. This shall be achieved by standardize folder-structure routines and use of indexation. 2 612 Course 612 Live Project 2014-12-11 Table of contents I page number I 1 Introduction 1.1 The purpose of the Live Project 1.2 Project objectives 1.3 The scope of the project 1.4 Introduction to Reach For Change 1.5 Business incubators for social entrepreneurs 3 3 3 3 3 4 2 Methodology 2.1 Pre-study 2.1.1 Meetings with members of R4C 2.2 Data gathering 2.2.1 In-depth interviews 2.2.2 Survey/Questionnaire 2.3 Use of models and theories 6 6 6 6 6 6 6 7 9 8 9 9 9 10 10 11 13 21 21 21 22 22 23 24 3 Analysis 3.1 Analysis Part 1 3.1.1 Input-transformation-output model 3.1.2 Operations 3.1.3 The 4V’s process 3.1.4 Service process 3.1.5 Four-stage model of operations 3.2 Analysis Part 2 3.2.1 Three stages of analysis 3.2.2 Root problems and possible solutions 4 Recommendations and risk analysis 4.1 Recommendations 4.2 Initial solution 4.3 Illustration of time saved a year from...
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...A SUMMER INTERNSHIP PROJECT REPORT ON ACC LIMITED (SALES UNIT) NAGPUR EMPLOYEE ENGAGEMENT A Report Submitted to Rashtrasant Tukadoji Maharaj Nagpur University In Partial Fulfilment of the requirement of Master of Business Administration (MBA) Course Specialization in Finance & Human Resources Management Academic Session 2013- 14 Prepared by PRITI ASHOK MOHITE (Student Name) SARAN MAM Guided by ____________________________ (Guide’s Name) Tirpude Institute of Management Education Note : (Font : Times new Roman 14 – Regular for all text and for Subject Name, Student Name, Guide Name and College Name used Times New Roman – Size 14, Bold) Note : (Font : Times new Roman 14 – Regular for all text and for Subject Name, Student Name, Guide Name and College Name used Times New Roman – Size 14, Bold) Civil Lines, Sadar, Nagpur – 440001 Certificate This is to certify that Miss. PRITI ASHOK MOHITE is a bonafide student of Tirpude Institute of Management Education, Nagpur pursuing Master of Business Administration (MBA) course specialization in FINANCE & HUMAN RESOURCE Management during academic Session 2012-13. The candidate has worked under the supervision of SARAN MAM (Guide name) and has satisfactorily completed his / her project work in this academic session. The project submitted by him / her is his /her own work and is complete so as to warrant its presentation for examination. His / Her project work titled EMPLOYEE ENGAGEMENT (title of project) which is...
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...Series The Essentials Series was created for busy business advisory and corporate professionals.The books in this series were designed so that these busy professionals can quickly acquire knowledge and skills in core business areas. Each book provides need-to-have fundamentals for those professionals who must: Get up to speed quickly, because they have been promoted to a new position or have broadened their responsibility scope Manage a new functional area Brush up on new developments in their area of responsibility Add more value to their company or clients • • • • Other books in this series include: Essentials of Accounts Payable, by Mary S. Schaeffer Essentials of Capacity Management, by Reginald Tomas Yu-Lee Essentials of Cash Flow, by H.A. Schaeffer, Jr. Essentials of Corporate Performance Measurement, by George T. Friedlob, Lydia L.F. Schleifer, and Franklin J. Plewa, Jr. Essentials of Cost Management, by Joe and Catherine Stenzel Essentials of CRM: A Guide to Customer Relationship Management, by Bryan Bergeron Essentials of Credit, Collections, and Accounts Receivable, by Mary S. Schaeffer Essentials of Financial Analysis, by George T. Friedlob and Lydia L.F. Schleifer Essentials of Intellectual Property, by Paul J. Lerner and Alexander I. Poltorak Essentials of Shared Services, by Bryan Bergeron Essentials of Trademarks and Unfair Competition, by Dana Shilling Essentials of XBRL: Financial Reporting in the 21st Century, by Miklos A.Vasarhelyi, Liv A.Watson, Brian...
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...willpower together with an ability and willingness to perform hard labour for successful completion of this project. It would be unfair on my part not to acknowledge the contribution of all those who had encouraged me all through and kept my spirits from flagging and that include my parents, friends and well wishers. These people, though not directly involved with the project, did most certainly provide the ambience that was sorely needed while undertaking such a strenuous task. I feel extremely fortunate that I had Mr/Ms Xxxx as my project leader and cannot thank him/her more for the unstinted encouragement I had received throughout this period. If his/her suggestions that resulted in necessary and timely course corrections were not there, I doubt very much whether this project would have at all seen the light of the day, let alone being successfully completed within the deadline. ABSTRACT The word that is most significant in Lean Manufacturing process is ‘lean’ which literally means a body or a system that does not have any unnecessary or avoidable flab or float. Such flab or float exists in manufacturing systems and are manifested through unnecessary or nil value movements or costs that do not add to the final worth of the finished product but increase total cost of production. The requirement of such a stringent approach to production process arose immediately after the Second World War especially in Japan which was facing a critical situation with most of its production facilities...
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...just in case a customer places an immediate order. JIT production system identifies the hidden problems in the value chain and reduces the production waste of the system while increasing the throughout (Sales- Raw Material Cost). Even though the JIT system seems to be interesting and less complicated it requires lot of coordination with supply chain to avoid delays in the production schedule. The whole concept of the JIT is differentiated from traditional productions systems using push vs. pull systems ofproduction. The push system of production pushes materials to the next stage of the production irrespective of whether time and resources are needed at the next level of production creating lot of inventories at each level of the production flow. The traditional manufacturing organizations adopt push system where they produce for inventory and work in progress. The pull system of production is where the materials are pulled by next level of the production only when is signaled or required by the next stage of production. This drastically reduces the inventory held as it does not keep any work in progress. JIT concept is built based on the concept of pull production which eliminates the total inventory. Definition of Just-In-Time (JIT) Just-In-Time (JIT) manufacturing is a...
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