Business Finance Homework Help

The advent of new technologies (the Internet, computerization, etc.) and the
impact of globalization (products not only available from every country but
being developed in multiple countries) has increased not just the demand for
goods and services but also has increased customer requirements and
expectations. As such, organizations must be constantly changing to be as
economically competitive as possible. This means doing more with less as the
organization becomes as “lean” as possible (no fat).

The operations manager must be aware of how and why lean systems are
necessary.

To answer the Discussion questions you will need to do additional research using
the virtual library and/or Internet.

In order for an organization to do more with less they must examine all facets of
the production or service process. To that end address the questions below:

1. How does just-in-time (JIT) inventory control help organizations become
   leaner?
2. Where does the information on waste (waste in raw materials, waste in
   process and flow, etc.) come from?
3. Should line employees be involved in making recommendations to improve lean
   production and processes or should this decision making be left only to
   management?