Question.1018 - Research the definitions of various production and operations management terms in the textbook readings. Perform a literature search on one of these terms. Discuss how this term can impact the ability for an operation to be competitive in the 21st century. Do not use a term posted by another student.
Answer Below:
While reading the textbook, I came across a term called "Lean Production ( Heizer et al., 2016)."Lean Production is a systematic approach to operations management that aims to maximize value while minimizing waste in the production process(Lean Production). The core principles of Lean Production, often derived from the Toyota Production System, include continuous improvement, respect for people, pull Production, and waste elimination. Lean Production focuses on eliminating waste, which leads to more efficient processes and reduced costs. It places a strong emphasis on sustaining a high standard of quality throughout the production process. Lean Production's pull-based approach enables companies to produce goods in response to actual customer orders, reducing inventory levels and promoting a more flexible response to market changes. Lean Production's waste reduction efforts align well with sustainability goals, attracting environmentally-conscious customers and stakeholders ( Heizer et al., 2016). Hence, Lean Production has become integral to competitiveness in 21st-century business. Its emphasis on efficiency, quality, agility, employee empowerment, sustainability, and supply chain integration enables operations to deliver customer value while effectively adapting to ever-changing market conditions. References Heizer, J., Reder, B., & Muson, C. (2016). Operations Management: Sustainability and Supply Chain Management JAY. Lean production (no date) Introduction to Lean Manufacturing | Lean Production. Available at: https://www.leanproduction.com/ (Accessed: 19 July 2023).More Articles From Operation Management
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