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Assignment 2 MGT322 (3rd Term 2022-2023)
Deadline: 03/6/2023 @ 23:59
For Instructor’s Use only
Instructions – PLEASE READ THEM CAREFULLY
This assignment is an individual assignment.
Due date for Assignment 2 is 3/06/2023
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Logistics Management
ASSIGNMENT -2
Submission Date by students: Before the end of Week- 11th
Place of Submission: Students Grade Centre
Weight: 15 Marks
Learning Outcome:
1. Demonstrate an understanding of how global competitive environments are changing supply chain management and logistics practice.
2. Apply essential elements of core logistic and supply chain management principles.
3. Analyze and identify challenges and issues pertaining to logistical processes.
Assignment Workload:
This assignment is an individual assignment.
Critical Thinking
The global marketplace has witnessed increased pressure from customers and competitors in manufacturing as well as the service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace, only those companies will be able to survive that will deliver products of good quality at a cheaper rate to achieve their goal companies try to improve performance by focusing on cost-cutting, increasing productivity levels, and quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).
Increased global competition leads the industry to increase efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasingly global economy, cost-effective manufacturing has become a requirement to remain competitive.
To meet all the challenges organizations, try to introduce different manufacturing and supply techniques. Management of organizations devotes their efforts to reducing manufacturing costs and improving the quality of the product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firms leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).
Read textbook chapter 7 or secondary data on the internet and answer the following questions.
Question:
Differentiate between lean Thinking and the JIT model. Why have Manufacturing Companies adopted Lean Thinking and the JIT model? (3.5 Marks)
Briefly describe major types of Waste, out of all types of waste which one is the biggest waste companies must keep in mind during production. (3.5 Marks)
What are the benefits from Suppliers to end users for using lean thinking? Assess the reasons (suitable examples), (3.5 Marks)
The arrival of artificial intelligence. The agile supply chain is a perfect concept for future SCM? Give reasons with suitable examples. (3.5 Marks)
Reference ((1.0 Marks))
Each answer should be within the limit of 250- 300 words.
The Answer must follow the outline points below:
Lean Thinking and JIT Concept
Agile Supply chain
Their Main functions
Reasons with suitable Examples
Reference
Ans 1:
Differentiating Lean Thinking and the JIT Model:
Lean Thinking:
Lean thinking is a management philosophy that focuses on creating value for customers by eliminating waste and continuously improving processes. It originated from the Toyota Production System (TPS) and is based on the principles of eliminating waste, creating flow, and pursuing perfection. Lean thinking aims to maximize customer value while minimizing waste through the efficient use of resources.
JIT (Just-In-Time) Model:
The JIT model is a production and inventory management system that emphasizes producing and delivering products in the right quantities, at the right time, and in the right place. It is a key component of lean manufacturing and focuses on reducing waste, such as excess inventory and overproduction, while maintaining high product quality and responsiveness to customer demand.
Key Differences:
Scope: Lean thinking is a broader management philosophy that encompasses the entire organization, including areas beyond manufacturing, such as administration and services. On the other hand, the JIT model specifically targets production and inventory management.
Time Horizon: Lean thinking aims for long-term continuous improvement, focusing on developing a culture of problem-solving and employee engagement. The JIT model, however, is more concerned with short-term operational efficiency and meeting immediate customer demand.
Waste Elimination: While both lean thinking and the JIT model aim to eliminate waste, lean thinking takes a broader view of waste, encompassing various forms such as overproduction, defects, waiting time, transportation, inventory, motion, and unused employee skills. The JIT model primarily addresses waste related to inventory and production processes.
Reasons for Adoption:
Manufacturing companies have adopted lean thinking and the JIT model for several reasons, including:
a) Cost Reduction: By eliminating waste and improving operational efficiency, companies can reduce costs associated with excess inventory, overproduction, defects, and other inefficiencies.
b) Increased Flexibility: Lean thinking and the JIT model promote agility in manufacturing processes, allowing companies to quickly respond to changing customer demands and market conditions.
c) Quality Improvement: Both approaches emphasize the importance of quality and continuous improvement, leading to higher product quality and customer satisfaction.
d) Competitive Advantage: Lean thinking and the JIT model enable companies to streamline their operations, reduce lead times, and deliver products faster and more reliably than their competitors. This can give them a significant competitive edge.
Example:
Toyota is a notable example of a company that has successfully adopted lean thinking and the JIT model. By implementing these approaches, Toyota has been able to achieve high levels of efficiency, quality, and customer satisfaction. They have reduced waste, improved productivity, and built a culture of continuous improvement throughout their organization. This has helped Toyota become one of the leading automotive manufacturers globally.
Reference:
Womack, J. P., & Jones, D. T. (2003). Lean thinking: Banish waste and create wealth in your corporation. Simon and Schuster.
Ans 2:
Major Types of Waste and the Biggest Waste to Consider:
In the context of lean thinking and the JIT model, waste refers to any activity or resource that does not add value to the final product or service. Identifying and eliminating waste is crucial for improving operational efficiency and reducing costs. The major types of waste, also known as the “Seven Wastes,” are as follows:
Overproduction: Producing more than what is needed or producing too early, leading to excess inventory, storage costs, and potential obsolescence.
Inventory: Excess inventory ties up valuable resources, increases carrying costs, and may result in waste due to damage, spoilage, or obsolescence.
Waiting: Idle time or delays in the production process, such as waiting for materials, equipment, information, or approvals, result in inefficiency and lost productivity.
Transportation: Unnecessary movement of materials, products, or equipment, leading to increased costs, potential damage, and wasted time.
Motion: Excessive or unnecessary movement of people or equipment within the production process, resulting in inefficiency and increased risk of accidents or errors.
Overprocessing: Performing more work or using more resources than necessary to meet customer requirements, leading to unnecessary costs and time consumption.
Defects: Quality issues, errors, or rework that result in scrap, product recalls, customer dissatisfaction, and additional costs.
Among these types of waste, overproduction is often considered the biggest waste. Overproduction not only ties up resources in excess inventory but also amplifies other types of waste, such as transportation, waiting, and defects. It can disrupt the flow of production, hide process problems, and lead to inefficient resource allocation. By addressing overproduction and focusing on producing only what is needed when it is needed, companies can better align their production with customer demand, reduce waste, and improve overall operational efficiency.
Reference:
Liker, J. K. (2004). The Toyota way: 14 management principles from the world’s greatest manufacturer. McGraw-Hill Education.
Ans 3:
Benefits of Lean Thinking from Suppliers to End Users:
Lean thinking not only benefits the manufacturing organizations that implement it but also has a positive impact on the entire supply chain, from suppliers to end users. The following are some benefits of lean thinking for suppliers and end users:
a) Reduced Lead Times: Lean thinking focuses on eliminating waste and streamlining processes, which results in reduced lead times. This means that suppliers can respond more quickly to customer orders and deliver products faster, resulting in shorter order-to-delivery cycles for end users. This leads to improved customer satisfaction and increased responsiveness to market demands.
Example: An automotive manufacturer implements lean principles and establishes close partnerships with its suppliers. By adopting lean practices, such as Just-in-Time delivery and reducing inventory buffers, the lead time for critical components is significantly reduced. As a result, the manufacturer can assemble and deliver vehicles faster to meet customer demand, providing a competitive advantage in the market.
b) Improved Quality: Lean thinking emphasizes the importance of quality at every stage of the supply chain. Suppliers who embrace lean principles focus on producing defect-free components and materials, which enhances the overall quality of the final product. End users benefit from receiving products with higher reliability, durability, and performance.
Example: A consumer electronics company implements lean manufacturing techniques and works closely with its suppliers to implement quality control processes. Through joint efforts, defects in components are reduced, leading to a significant decrease in product failures. This results in increased customer satisfaction and a stronger brand reputation for the company.
c) Cost Reduction: Lean thinking aims to eliminate waste and increase efficiency throughout the supply chain. This leads to cost savings for both suppliers and end users. Suppliers can optimize their production processes, reduce excess inventory, and minimize transportation costs. End users benefit from cost-effective products that are competitively priced.
Example: A clothing retailer adopts lean thinking and establishes collaborative relationships with its suppliers. By implementing lean practices such as demand-driven production and reducing unnecessary transportation, the retailer and its suppliers can eliminate waste and reduce costs. The end users benefit from affordable clothing with improved value for money.
So, lean thinking benefits suppliers by improving their responsiveness, quality, and cost-efficiency. End users benefit from reduced lead times, improved product quality, and cost-effective offerings. By embracing lean principles and collaborating across the supply chain, organizations can create a win-win situation for suppliers and end users.
Reference:
Nakata, K., & Sivakumar, K. (1996). National culture and new product development: An integrative review. Journal of Marketing, 60(1), 61-72.
Ans 4:
The Arrival of Artificial Intelligence and the Agile Supply Chain:
Lean Thinking and JIT Concept:
Lean thinking and the JIT model have been effective strategies for improving manufacturing performance by reducing waste, increasing efficiency, and delivering products of good quality at a lower cost. These concepts have revolutionized the manufacturing industry by streamlining processes and improving overall operational effectiveness. However, with the arrival of artificial intelligence (AI) and advancements in technology, the concept of an agile supply chain has emerged as a perfect concept for future supply chain management (SCM).
Agile Supply Chain:
An agile supply chain is characterized by its ability to quickly respond and adapt to changes in customer demand, market conditions, and technological advancements. It focuses on flexibility, collaboration, and responsiveness throughout the entire supply chain network. The agile supply chain incorporates real-time data analysis, advanced forecasting techniques, and quick decision-making to enable rapid adjustments in production, inventory levels, and distribution.
Main Functions of Agile Supply Chain:
Real-time Visibility: An agile supply chain relies on accurate and up-to-date information sharing across the entire supply chain network. This enables real-time visibility of demand, inventory levels, production status, and delivery performance.
Collaboration and Communication: Collaboration among supply chain partners, such as suppliers, manufacturers, distributors, and customers, is essential for an agile supply chain. Effective communication and information exchange facilitate quick decision-making and timely responses to market changes.
Flexibility and Scalability: Agile supply chains are designed to be flexible and scalable, allowing companies to adjust production volumes, product variations, and distribution strategies based on customer demand fluctuations and market trends.
Rapid Response and Adaptation: With the help of AI and advanced analytics, an agile supply chain can analyze large volumes of data, detect patterns, and make accurate demand forecasts. This enables companies to respond quickly to changes, minimize disruptions, and optimize inventory levels.
Reasons for the Agile Supply Chain with AI:
a) Demand Variability: AI-driven demand forecasting and predictive analytics help companies better understand customer preferences, anticipate changes in demand, and adjust production and inventory levels accordingly. This reduces the risk of stockouts, excess inventory, and production inefficiencies.
b) Enhanced Customer Experience: AI-powered technologies, such as chatbots and virtual assistants, enable personalized customer interactions, efficient order processing, and real-time tracking of shipments. This improves customer satisfaction and loyalty.
c) Efficient Inventory Management: AI-based algorithms can analyze demand patterns, seasonality, and historical data to optimize inventory levels and reduce carrying costs. Companies can maintain leaner inventories while ensuring product availability.
d) Predictive Maintenance: AI-driven predictive maintenance systems can monitor equipment performance, detect anomalies, and schedule maintenance activities proactively. This reduces unplanned downtime and enhances overall operational efficiency.
Example:
Amazon is a prime example of a company that has embraced AI and developed an agile supply chain. Through its AI-powered algorithms and machine learning capabilities, Amazon optimizes its inventory management, delivery routes, and forecasting accuracy. It analyzes vast amounts of customer data, including browsing history, purchase behavior, and social media interactions, to provide personalized product recommendations and streamline its supply chain operations. This allows Amazon to deliver products to customers quickly and efficiently, ensuring a seamless and satisfying shopping experience.
Reference:
Christopher, M., & Peck, H. (2004). Building the resilient supply chain. International Journal of Logistics Management, 15(2), 1-14.
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