is prevalent (rather most important) in DM, is almost References
unknown in CM resulting in confusion among end users. Because no time frame is available for vendors to supply raw materials and components leading to huge inventory of raw materials, semi-finished and finished products in CM. Moreover, CP industries are heavily dependant on captive resources and vendor development is least emphasized leading to maintenance of huge raw materials inventory.
Unfortunately, LM is treated as a bundle of techniques, a bunch of fashionable management jargons or a piecemeal approach even today in DM industries and with a higher degree in CM industries. In CM settings, operations are typically connected, close, and continuous-cellular by design and WIP is already under control. Analytical methods can be used to determine run sizes, stocking strategies and importantly, identification of areas for continuous improvement efforts.
is prevalent (rather most important) in DM, is almost References
unknown in CM resulting in confusion among end users. Because no time frame is available for vendors to supply raw materials and components leading to huge inventory of raw materials, semi-finished and finished products in CM. Moreover, CP industries are heavily dependant on captive resources and vendor development is least emphasized leading to maintenance of huge raw materials inventory.
Unfortunately, LM is treated as a bundle of techniques, a bunch of fashionable management jargons or a piecemeal approach even today in DM industries and with a higher degree in CM industries. In CM settings, operations are typically connected, close, and continuous-cellular by design and WIP is already under control. Analytical methods can be used to determine run sizes, stocking strategies and importantly, identification of areas for continuous improvement efforts.
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