D300 Ch 17 Global Production Exam 3
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production and logistics 512
1 lower the cost of value creation activities. 2 add value by better serving customer needs.
the modern successor to TQM, is a statistically based philosophy that aims to reduce defects, boost productivity,eliminate waste, and cut costs throughout a company
European Union requires that the quality of a firms manufacturing processes and products be certified under this standard
minimum efficient scale
the level of output at which most plant-level scale economies are exhausted
Flexible manufacturing or lean production
covers a range of manufacturing technologies designed to 1. reduce setup times for complex equipment, 2. increase the utilization of individual machines through better scheduling, 3. improve quality control at all stages
hidden cost of foreign location
high employee turnover, shoddy workmanship, poor product quality
Advantages of make 525
- lowering cost
- facilitating specialized investment
- protecting proprietary product
Advantages of buy 527
- strategic flexibilty
- Lower cost
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