...Operations Management and Improvement For JCR Drillsol Private Limited JCR DRILLSOL Table of Contents 1. Introduction 1.1) Problem Specification and Hypothesis…………………… 3 2. Article Summary ………………………………………………….. 5 3. Problem Analysis………………………………………………… 13 4. Conclusion…………………………………………………………. 18 References……………………………………………………………… 18 Introduction JCR Drillsol PVT.LTD JCR is a large scale manufacturing company who’s objective is to provide unique and unprecedented solutions in every arena of the Drilling, Mining and Construction Industry. JCR’s variety of specialized RIGs finds its application in every possible arena of the drilling industry, making them one of the most competitive services in the business. JCR Drillsol, products include highly efficient and heavy-duty RIGs for a wide range of drilling applications ranging from RC, DTH, Tractor mounted and Wagon Drills, Pumping and Testing Units to Drag Bits, Mud Pumps and Mini Truck Mounted Drills. Our technology also designs other drilling solutions such as DTH Hammers, RC Hammers, RC Drill Rods, Tricone and O-Dex Bits. Problems faced in the industry Various problems faced by the industry are: * Material Wastage and Cost Factor A major problem faced by JCR Drillsol is the wastage of materials and cost factor. The Product output per unit input of raw materials...
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...Competitive Advantage Paper Name University of Phoenix MGT/498 Strategic Management Instructor Date Competitive Advantage Paper Riordan Manufacturing Incorporated engages in plastic injection molding with operations both in the United States and China. As an industry leader, Riordan is in the process of identifying strategic factors in the internal and external environment. The goal is to develop long-range plans to manage resources as well as the opportunities and threats present in the environment. Emerging markets of Asia, some in South America, and in Europe expects to bring in demand for more products. These markets deeply affected by lifestyle changes ushered in by the new age of multimedia, economic growth, industrialization, and growth of personal income will power the expected growth for plastics and other consumer products. Competitive Advantages and Strategies Riordan is a company with business across the globe. Similar to companies like McDonald’s and The Gap, Riordan receives a great deal of pressure to maintain technological perks to the customer, treat the employees well, and support efforts to enforce the protection of the environment. As a global company, special interest groups sometimes have a louder voice than the public; these groups will request, almost demand, the support of the business within the community. For Riordan to remain competitive the company has been very supportive of special interest groups to...
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...Final Research Paper Topic: The challenges of lean applications in SMEs Written by Sundara Pavan Kumar Raavi Department of Industrial Management University of Central Missouri Submitted to Ms. M. Joleen Byerline Department of Industrial Management UNIVERSITY OF CENTRAL MISSOURI Abstract The prime objective of this paper is to find out the lean manufacturing adaptation hurdles in SMEs. In this study, a few SMEs are consider for experimental study and we can understand the overall idea about the ideology of SMEs functioning. Lean manufacturing is based on the principle of getting the same result with less human interference as well as less machine and material involvement. The scope of lean implementation is not only restricted to automotive industry but also has recognition in manufacturing industries in US. The in information in this study is collect from the professionals who have implemented and those who did not implemented the lean manufacturing tools in business. The research speaks some of the barriers, which came across while adopting manufacturing technique. Keywords: SMEs, Lean-manufacturing implementation...
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...2 Strategic management accounting: how far have we come in 25 years? Kim Langfield-Smith Monash University, Melbourne, Australia Abstract Purpose – The purpose of this paper is to provide a review of the origins of strategic management accounting and to assess the extent of adoption and “success” of strategic management accounting (SMA). Design/methodology/approach – Empirical papers which have directly researched SMA and prior review papers of the adoption and implementation of SMA or SMA techniques are reviewed. As well as assessing the extent of adoption of SMA and the reasons underlying an apparent low adoption rate, the role of accountants in adopting and implementing SMA is considered. Finally, the success or otherwise of SMA is discussed. Findings – SMA or SMA techniques have not been adopted widely, nor is the term SMA widely understood or used. However, aspects of SMA have had an impact, influencing the thinking and language of business, and the way in which we undertake various business processes. These issues cut across the wider domain of management, and are not just the province of management accountants. Research limitations/implications – There is limited value in conducting future surveys of the adoption and implementation of SMA or SMA techniques. Rather, the focus should be on how SMA-inspired techniques and processes diffuse into general practice within organizations. Originality/value – Twenty-five years after the term strategic management accounting was...
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...When Manufacturing Moves Back: Concepts and Questions Luciano Fratocchi1, Carmela Di Mauro2, Paolo Barbieri3, Guido Nassimbeni4, Andrea Zanoni5 1 Department of Industrial & Information Engineering & Economics, University of L’Aquila Via G. Gronchi 18, Nucleo Industriale Pile, L’AQUILA AQ ITALY luciano.fratocchi@univaq.it +39-0862-434356 CORRESPONDING AUTHOR 2 Department of Civil and Environmental Engineering, University of Catania Via A. Doria 5, 95131 CATANIA CT ITALY cdimauro@unict.it 3 Department of Management, University of Bologna Via U. Terracini 28, 40131 BOLOGNA BO ITALY p.barbieri@unibo.it 4 Department of Electric, Managerial and Mechanical Engineering, Via Delle Scienze, 206, 33100 UDINE UD ITALY nassimbeni@uniud.it 5 Department of Management, University of Bologna Via U. Terracini 28, 40131 BOLOGNA BO ITALY andrea.zanoni@unibo.it ABSTRACT Interest in back-reshoring strategies – intended as companies’ decisions to reverse previous off-shoring by bringing manufacturing back home – has gained momentum recently. However, little is known so far about the magnitude of this phenomenon, about its geographical boundaries, and about the underlying motivations. In this paper a characterization of back-shoring as part of the dynamics of firms’ internationalization strategies is offered. Next, building on emerging empirical evidence, open questions are identified and an agenda for research is proposed. KEYWORDS Reshoring Back-reshoring Near-reshoring Off-shoring Internationalization...
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...International Review of Business Research Papers Vo.2 No. 2. October 2006, Pp. 45 -58 Trends in Working Capital Management and its Impact on Firms’ Performance: An Analysis of Mauritian Small Manufacturing Firms Kesseven Padachi* A well designed and implemented working capital management is expected to contribute positively to the creation of a firm’s value The purpose of this paper is to examine the trends in working capital management and its impact on firms’ performance. The trend in working capital needs and profitability of firms are examined to identify the causes for any significant differences between the industries. The dependent variable, return on total assets is used as a measure of profitability and the relation between working capital management and corporate profitability is investigated for a sample of 58 small manufacturing firms, using panel data analysis for the period 1998 – 2003. The regression results show that high investment in inventories and receivables is associated with lower profitability. The key variables used in the analysis are inventories days, accounts receivables days, accounts payable days and cash conversion cycle. A strong significant relationship between working capital management and profitability has been found in previous empirical work. An analysis of the liquidity, profitability and operational efficiency of the five industries shows significant changes and how best practices in the paper industry have contributed to performance...
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...parenting & corporate strategy…………………………………..…..8 2.2.1. Definition of a corporate parent……………………………………………………8 2.2.2 ART as a Corporate parent………………………………………………………….9 2.2.3 ART’S approach as a corporate parent…………………….……………………12 3.0 ART’S CORPORATE STRATEGY………………………………………………….……..13 3.1. Restructuring…………………………………………………………………………13 3.2. Investment in resources…………………………………………………….……..13 3.3 Strategic alliances…………………………………………….....……………………13 3.4 Marketing………………………………………………………………………………..14 3.5 Expansion and distribution…………………………………………………..………14 3.6 Value Creation………………………………………………………………………..14 3.7 ART’s BCG portfolio analysis…………………………………….…………………15 3.8 Key...
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...Design Paper OPS/571 Supply Chains Design Paper Riordan Manufacturing is a company owned by Fortune 1000 Riordan Industries, Inc. The company is a leader is manufacturing plastic with customers which “include automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers”(Riordan, 2005.) A review of Riordan Manufacturing will include the company’s manufacturing strategy, process flow chart for the electric fan supply, metrics to evaluate the electric supply chain, and how the supplier relationship and the effects on the supply chain. Additionally, the review will also explain the lean production schedule, forecasting techniques, aggregate production plan, master schedule, and materials requirement schedule. Riordan Manufacturing Strategy The manufacturing strategy which best fits Riordan’s manufacturing strategy is a stable workforce. Stable workforce is the best manufacturing strategy because “it schedules production of fans to meet the forecasted sales and the forecast is calculated by taking the average of sales for the last three years and extrapolating it into the next year” (Riordan, 2005). Another indication can be found in the employee turnover report for 2009-2012. The percentage of involuntary separations decreased from 3.4% in 2009 to 2.0% in 2012. The decrease in involuntary turnovers indicates maintenance of a stable workforce. The stability of the workforce benefits the company because...
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...include brief statements on the following: definition of the problem aims and objectives methods/data sources key findings conclusions any recommendations for action. The Executive Summary should be brief and succinct, and may use point form to achieve this. As a rule-of-thumb, allow one page for every 5,000 words up to a maximum of five pages, and using headings in longer Executive Summaries. The inclusion of an Executive Summary is not a substitute for discussion/exposition in the full report. Example of an Executive Summary Problem context & Purpose of report Method Results Conclusions Recommendations Limitations This report provides an analysis and evaluation of the current and prospective profitability, liquidity and financial stability of Outdoor Equipment Ltd. Methods of analysis include trend, horizontal and vertical analyses as well as ratios such as Debt, Current and Quick ratios. Other calculations include rates of return on Shareholders’ Equity and Total Assets and earnings per share to name a few. All calculations can be found in the appendices. Results of data analysed show that all ratios are below industry averages. In particular, comparative performance is poor in the areas of profit...
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...Int. J. Production Economics 69 (2001) 15}22 Strategy management through quantitative modelling of performance measurement systems U.S. Bititci*, P. Suwignjo, A.S. Carrie Centre for Strategic Manufacturing, DMEM, University of Strathclyde, Glasgow G11XJ, UK Received 30 March 1998; accepted 29 September 1999 Abstract This paper is based on previous works on performance measurement and on quanti"cation of relationships between factors which a!ect performance. It demonstrates how tools and techniques developed can be used to evaluate the performance of alternative strategic choices through a quantitative approach to modelling of performance measurement systems. The paper provides a brief background to the research problem and preceding works. The tools and techniques used are brie#y introduced. Use of these tools and techniques to evaluate the performance of alternative manufacturing strategies is demonstrated. Finally, the capability of the approach to deal with dynamic environments is demonstrated 2001 Elsevier Science B.V. All rights reserved. using sensitivity analysis. Keywords: AHP; Performance measurement; Prioritisation of performance measures; Dynamics of performance measures; Resource allocation 1. Introduction The nature of competition has changed dramatically over the last two decades. Quality, speed, and #exibility, in addition to cost, have emerged as the three most important competitive attributes [1}4]. This has made the traditional "nancially based performance...
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...Int. J. Business Performance Management, Vol. 5, No. 1, 2003 1 Implementing performance measurement systems: a literature review Mike Bourne* and Andy Neely Centre for Business Performance, School of Management, Cranfield University, Cranfield, MK43 0AL, UK E-mail: m.bourne@cranfield.ac.uk *Corresponding author John Mills and Ken Platts Centre for Strategy and Performance, Institute for Manufacturing, University of Cambridge, Mill Lane, Cambridge, CB2 1RX, UK Abstract: Currently, there is a great interest in performance measurement with many companies attempting to implement the balanced scorecard. However, there is also evidence that many of these implementations are not successful. This paper reviews the different performance measurement system design processes published in the literature and creates a framework for comparing alternative approaches. The paper then proceeds to review the literature on performance measurement system implementations and concludes that the performance measurement literature is at the stage of identifying difficulties and pitfalls to be avoided based on practitioner experience with few published research studies. This paper is the first of two, the second going on to consider performance measurement implementation from the point of view of the change management literature. Keywords: Performance measurement; management process implementation. Reference to this paper should be made as follows: Bourne, M., Neely, A., Mills, J. and Platts...
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...Significance of Management Accounting Techniques in Decision-making: An Empirical Study on Manufacturing Organizations in Bangladesh Farjana Yeshmin* and Md. Amran Hossan** Management accounting is concerned with gathering and reporting internal financial information to facilitate decision-making process. As management accounting is not required to conform to national accounting standards, it allows business to customize the management accounting techniques as per demand of company. As a process of this customization, some advanced quantitative as well as number of qualitative techniques accompany with the traditional techniques, have been emerged to cater the information need in decision making. This study attempts to measure the significance of management accounting techniques in decision making of the selected manufacturing organizations in Bangladesh. In doing so, a total of 74 manufacturing organizations have been surveyed with a structured questionnaire by using 5 point Likert Scale measurement from different categories of manufacturing organizations. Findings reveal that cash flow statement analysis, ratio analysis, budgetary control, CVP analysis, variance analysis and fund flow analysis have been frequently high-ranking techniques. Secondly, the authors have recognized five factors to calculate the variability in decision-making with the help of rotated component matrix which shows that 75.125 % of the total variability has found in the usage of management accounting techniques...
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...Technical University Institute of Machinery. Ehitajate tee 5, EE0026 Tallinn, Estonia e-mail: eduard.shevtshenko@ttu.ee ABSTRACT Paper will give the analysis of theoretical MRP base and “Monitor” and “Scala” software efficiency analysis in the solution of “resource planning management” problems. The aim is to find out what are the original features of every solution on the way to profit maximisation at manufacturing enterprise. Paper will show what are the results of software implementation at the manufacturing enterprise compared to the period of work without software. Estimation of the efficiency of the “Scala” and “Monitor” software starts from the preparation of manufacturing process stage, and stretched up to financial results achieved. In this paper results achieved throw planning activities will be compared with real results. Analyses of manufacturing problems solutions throw software installed: using of work centre loading simulation possibilities for the optimisation of present and future manufacturing capacity; pre-calculation for future products; rating of subcontractors; EOQ calculation; delivery performance analysis; optimisation of inventory; supply chain management. Theoretical MRP base analysis gives the estimation of final profit sensitivity to different input data. This work will be practically approved on the manufacturing enterprises, under the pressure of real limits of enterprise, with analyses of results achieved. The aim is to find the most optimal...
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...WORKING CAPITAL MANAGEMENT AND PROFITABLITY OF LISTED MANUFACTURING COMPANIES IN GHANA Agyemang Badu Ebenezer Lecturer, Department of Business Administration Presbyterian University College, Ghana Michael Kwame Asiedu Lecturer, Department of Business Administration Presbyterian University College, Ghana ABSTRACT This study examines the effect of working capital management on the profitability of companies listed on the Ghana Stock Exchange. Secondary data from the Ghana Stock Exchange on manufacturing companies within the Accra metropolis was used to examine whether working capital management influence the profitability of manufacturing companies in the country. The study found out that, the major component of working capital management such as inventory days, account payable and cash conversion cycle have influence on the profitability of manufacturing companies. The study recommended that, manufacturing companies should adopt efficient and effective ways of efficiently managing these components of working capital management. KEY WORDS: Working capital management, profitability, net operating profit 1.1 INTRODUCTION Working Capital Management has become very important in financial management because of its effects on the firm’s profitability, risk and consequently its value. There are several important reasons why the management of working capital is important to both small and large organisations. (Smith, 1980). A well designed and implemented working capital management policy is...
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...Business Process Management Journal A systematic review of Lean Six Sigma for the manufacturing industry Saja Ahmed Albliwi Jiju Antony Sarina Abdul halim Lim Article information: Downloaded by North South University At 22:57 26 January 2016 (PT) To cite this document: Saja Ahmed Albliwi Jiju Antony Sarina Abdul halim Lim , (2015),"A systematic review of Lean Six Sigma for the manufacturing industry", Business Process Management Journal, Vol. 21 Iss 3 pp. 665 - 691 Permanent link to this document: http://dx.doi.org/10.1108/BPMJ-03-2014-0019 Downloaded on: 26 January 2016, At: 22:57 (PT) References: this document contains references to 63 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 961 times since 2015* Users who downloaded this article also downloaded: Saja Albliwi, Jiju Antony, Sarina Abdul Halim Lim, Ton van der Wiele, (2014),"Critical failure factors of Lean Six Sigma: a systematic literature review", International Journal of Quality & Reliability Management, Vol. 31 Iss 9 pp. 1012-1030 http://dx.doi.org/10.1108/IJQRM-09-2013-0147 M.P.J. Pepper, T.A. Spedding, (2010),"The evolution of lean Six Sigma", International Journal of Quality & Reliability Management, Vol. 27 Iss 2 pp. 138-155 http:// dx.doi.org/10.1108/02656711011014276 Diego Pacheco, Isaac Pergher, Guilherme Luís Roehe Vaccaro, Carlos Fernando Jung, Carla ten Caten, (2015),"18 comparative aspects between...
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