Operation management exam Essay Example | Topics and Well Written Essays - 1000 words

Operation management exam - Essay Example The main objective of the concept is to optimize from the production processes while reducing on wastage. The concept aims to reduce lead time and batch size and increase the throughput time. The implementation in company results to efficient running of the processes perfectly aligned to the quantity demanded. The history of the concept dates back in Japan where it was recognised as a means of production. The concept was initially known as the Toyota production system since it was practised in order to compete with the automobile industry in America as explained by Coyle, Bardi and Langley (2009). It was observed that in America, production was based on the Economic Order Quantity (EOQ) however, the method could not work in Japan as the domestic demand was lower and there was demand for different models in small quantities. This led to the introduction of the concept that was based on elimination of waste resulting from inventory costs, processing time , transportation, time spent waiting and excess production. The implementation of concept saw the rise of the industry and realised more profits however the system needs employee participation and good management for it to yield benefits to the company. The JIT manufacturing system benefits a company in several ways the most important are the reduction of inventories. Customer relations improves as the company reduces the throughput time resulting to greater output and fast response to the customers demands and also minimizes the rates of defects leading satisfaction. There is reduced setup time that allows the company to eliminate the stock for change over time. The system simplifies inventory management as there is improved flow of goods from the warehouse. Schedules of working hours, production and supply are synchronized with the demand and optimal inventory amounts.

Marketing Essentials Assignment Example | Topics and Well Written Essays - 2500 words

Marketing Essentials - Assignment Example Subsequent to that, the Company developed and published ‘Modern Methods of Antiseptic Wound Treatment’ in the year of 1888. In the same year, the Company successfully innovated and launched the first commercial first aid kits. The Maternity kits were launched for the purpose of making childbirth safer in the year of 1894. Johnson & Johnson has strong credos that are inbuilt into the company’s business ideology. The first responsibility is to the nurses, patients, nurses, to fathers and mothers who use the company services and products. In addition to that, the Company maintains following standards: High Quality, Prompt service delivery, Equal opportunity for the suppliers, Individual attention to employees, Adequate and fair compensation and working conditions, Equal employment opportunities. Johnson & Johnson has no established mission or vision statement. However, the credos and values are considered to be serving the role of mission and vision statement for the company. Chapter 2 Analysis of company situation Source: (Johnson & Johnson annual report 2011). Johnson & Johnson performed well in the year of 2011. It produced adjusted earnings for the 28th consecutive year (Annual Report, 2011). In the year, the company’s aggregate sales were $ 65.0 billion adding an increase of 5.6 percent into the sales. Operationally, sales grew by 2.8 percent, representing the growing demand and strength of new products particularly in the pharmaceuticals business segment, science-based continuous innovations in the consumer business, steady and constant growth in the MD&D franchise and strong growth was recorded in the emerging markets (Annual Report, 2011). Up to 70 percent of sales were generated by products having No.1 or No.2 global market share positions. And approximately 25 percent of sales were generated through the products introduced in the past five years (Annual Report, 2011). Also, the company invested $ 7.5 billion in advanced robust pipelines and Research & Development across three of the main business segments. Due to this substantial investments in the R&D projects, the company generated considerable free cash flow of nearly & 11.4 billion. The consequent effect appeared in the shape of AAA credit ratings and consecutively increasing the dividend to shareholders for the last 49 years. Source: (Johnson & Johnson Annual Report, 2011). Chapter 3 Market situation The United States of America remains the biggest market for the personal care and health care products. The market situation in the United States indicates that there are more than 800 companies serving in the personal care and health industry and their collective annual revenues has been estimated around $ 38 billion (Hoovers, 2012). The major companies include Johnson & Johnson, Estee Lauder and Procter & Gamble. The research indicates that this industry is heavily concentrated and 85 percent of industry revenue is contributed by the 50 largest firms i n the personal care products (Hoovers, 2012). Top 5 Companies Source: Hoovers D&B Company The above graph highlights 5 leading companies in the personal and health care p