Inventory Waste Elimination without High Quality
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Reduction of inventory without consideration to current operations has been criticized and some finance and accounting departments make inventory and purchasing decisions without really understanding operations. Should lean production be eliminated?
If not, how should lean production be modified to gain the best result?
What would be the results of the inventory waste elimination efforts of lean if quality levels were not high?
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This discusses the concepts related to Lean production
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What would be the results of the inventory waste elimination efforts of lean if quality levels were not high?
Managing inventory is a juggling act. Excessive stocks can place a heavy burden on the cash resources of a business. Insufficient stocks can result in lost sales, delays for customers etc. Thus issue of managing inventory is crucial to reduce the costs and to improve the satisfaction of the customers. We have to apply lean management in a systematic manner to have desired results.
Reduction of inventory without consideration to current operations has been criticized and some finance and accounting departments make inventory and purchasing decisions without really understanding operations. Should lean production be eliminated?
If not, how should lean production be modified to gain the best result?
According to lean.org: Lean system is "a business system for organizing and managing product development, operations, ...
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