MICROECONOMICS IN MODULES (LOOSELEAF)
4th Edition
ISBN: 9781464188411
Author: KRUGMAN
Publisher: MAC HIGHER
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Question
Chapter 2, Problem 2QFT
To determine
To Explain:
How lean manufacturing enhances the
Concept Introduction:
Lean Manufacturing:
Lean manufacturing or simply lean refers to a systematic method for waste minimization within a manufacturing system without the loss of productivity. A more precise definition of the term is “doing more with less by employing 'lean thinking.' Lean manufacturing involves never-ending efforts to eliminate or reduce waste in design, manufacturing, distribution, and customer service processes.”
Waste in this context is defined as any activity that does not add value from the customer’s perspective. In lean manufacturing there are seven types of waste:
- Over-production against plan
- Waiting time of operators and machines
- Unnecessary transportation
- Waste in the process itself
- Excess stock of material and components
- Non-value-adding motion
- Defects in quality
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MICROECONOMICS IN MODULES (LOOSELEAF)
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