Content

1. Introduction
2. Transformation model
3. Productivity
4. Project Management
5. Forecasting
6. Process Strategy
7. Control chart (x̅ and R chart)
8. Inventory management
9. Just In Time

Just In Time

Just In Time system are design to achieve a smart flow of production using minimal inventory.

JIT refers to both production and control system in which work flows are scheduled so precisely that only the smallest quality of work in progress will be kept in the stages of production.

Inventory management

Pareto Analysis (ABC analysis)

ABC analysis is a stock-classification system that uses three categories to classify the different items kept in a store. Categories (A, B, C): A being the most valuable items, C being the least valuable ones.

Control chart (x̅ and R chart)

X-bar and R charts help determine if a process is stable and predictable.



The X-bar chart shows how the mean or average changes over time.

The R chart shows how the range of the subgroups changes over time. It is also used to monitor the effects of process improvement theories

Process Strategy

A process or transformation strategy is an organization's approach to transform resources into goods and services. These goods or services are organized around a specific activity or process..
Involves determining how to produce a good or service within constraints.

Forecasting

Forecasting can be described as the act of predicting future events.

Techniques used in forecasting:

1. Naive approach
2. Moving average
3. Exponential smoothing 
4. Trend projection
5. Linear regression
6. Coefficient correlation

Project Management

A Project can be defined as a set of related activities which have a definite starting point and ending point that pursues a well defined goals and uses a definite set of resources.

Project management is the use to modern management techniques to carry out and complete a project from start to finish in order to achieve pre-set target of quality, time and cost.

Productivity

Productivity is an economic measure of output per unit of inputs.

The Transformation Model

Organisations produce goods and services by converting input into outputs via a process known as the transformation process.