CFA® Level I – Economics Demand and Supply Analysis: Introduction www.irfanullah.co 1 Contents 1. Introduction 2. Types of Markets 3. Basic Principles and Concepts 4. Demand Elasticities www.irfanullah.co 2 1. Introduction • Economics is the study of production‚ distribution‚ and consumption; it is divided into two broad areas: Microeconomics and Macroeconomics • Macroeconomics deals with aggregate economic quantities‚ such as national output and national income • Microeconomics deals with
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LEAN OPERATIONS & JIT Lean Operations – moving towards the elimination of all waste in order to develop an operation that is faster more dependable‚ produces higher quality products and services and operates at a low cost. In general‚ Lean can be viewed as a philosophy of operations management‚ i.e. it gives a clear view which can be used to uide the way operations are managed in many different contexts. Several techniques are used to support this philosophy. (JIT techniques) The Lean approach
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16 C H A P T E R JIT and Lean Operations D ISC USSI ON Q U ESTI O NS 1. JIT is a philosophy of continuous and forced problem solving. It is a continuous program that replaces a series of “fad” programs. 2. A lean producer is a company that adopts a philosophy of minimizing waste‚ striving for perfection through continuous learning‚ creativity‚ and teamwork. 3. The Toyota Production System (TPS) has three core components: continuous improvement‚ respect for people‚ and standard work
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LEAN SIX SIGMA METHODOLOGY Research Project TEAM 14 DUE DATE: April 23th‚ 2013 About the Company An Indian automotive company produces some of the engines it integrates inside its cars. However‚ some of the engines present overheating problems due to jammings
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ROLE OF SIX SIGMA IN HR [pic] Authors: ❖ Dr. D.Visagamoorthi‚ Assistant professor‚ SOM‚ SKCET ❖ Mr. A.Sibi Rathina Raja‚ Student‚ SOM‚ SKCET ABSTRACT: As the world is approaching towards higher quality and maximum minimisation of defects‚ organisations are trying to acquire and implement some other more specific efforts that fulfil their ultimate aim of obtaining accuracy in quality. Six Sigma is one of the strategic tools used by leading organizations to achieve accuracy
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1. Introduction More and more companies have implemented quality management in their operations. According to isixsigma.com‚ many international organizations have implemented total quality management (TQM) such as Toyota Motor‚ Motorola‚ Ford Motor‚ and Philip semiconductor. TQM which is a strategy aimed at embedding awareness of quality in all organizational process (wikipedia) began in the 1950’s and it has become widely known in 1980’s. Also‚ Six Sigma was originated from Motorola in 1986. Its
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What is A Supply Chain? ! The system of suppliers‚ manufacturers‚ transportation‚ distributors‚ and vendors that exists to transform raw materials to final products and supply those products to customers. ! That portion of the supply chain which comes after the manufacturing process is sometimes known as the distribution network. Introduction to Supply Chain Management IEE 534 Supply Chain Modeling & Analysis Lecture Slides Dr. Esma S. Gel 1 + 3 A typical supply chain
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Julieta G. Manzano MM 240 Six Sigma at 3M‚ Inc. Brief Summary of the Case: When James McNerndy was announced the Chairman and Chief Executive of 3M‚ Inc. his top priority is to implement Six Sigma in the company as he envision this as the solution to the lagging profit of the company. His first step is to training hundreds of his senior executives to lead the implementation and train the middle management as well. The current Director of Six Sigma Operations‚ Jeanne O’Connell had mentioned four
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BUSINESS LAW INDIVIDUAL ASSIGNMENT QUESTION 1A Legal Issue This aspect involves LAW/ RULE OF OFFER AND ACCEPTANCE. Discussion of the legal principles “… agreement can be resolved into an offer by one party (the offeror and an acceptance of that offer by the other the offeree. Contract is an agreement between two or more people. Discussion of the legal principles One of the parties must have made an offer The offer must have been communicated to the offeree The offer must not have been
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Six Sigma in Indian industries Case Study |Author |Atanu Maity | |Author Position |Program Manager | |Date |August 05‚ 2009 | Version: 1.0 TABLE OF CONTENTS Introduction to Six Sigma 5 History of Six Sigma 6 What is Six Sigma 8 Why
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