- Forecast by SKU, cost, item, currencies, margin, country, channel, customer location, etc.
- Drive inventory and safety stock levels according to customer requirements using the Service Level Optimizer
Syn: lean production.
A philosophy of production that emphasizes the minimization of the amount of all the resources (including time) used in the various activities of the enterprise. It involves identifying and eliminating non-value-adding activities in design, production, supply chain management, and dealing with the customers. Lean producers employ teams of multiskilled workers at all levels of the organization and use highly flexible, increasingly automated machines to produce volumes of products in potentially enormous variety. It contains a set of principles and practices to reduce cost through the relentless removal of waste and through the simplification of all manufacturing and support processes. Syn: lean, lean manufacturing.
A curve reflecting the rate of improvement in time per piece as more units of an item are made. A planning technique, the learning curve is particularly useful in project-oriented industries in which new products are frequently phased in. The basis for the learning curve calculation is that workers will be able to produce the product more quickly after they get used to making it. Syn: experience curve, manufacturing progress curve.
Group of people who have woven a continuous, enhanced capacity to learn into the corporate culture. (2) An organization in which learning processes are analyzed, monitored, developed, and aligned with competitive goals.
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