Definition of Just in time An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs. This method requires that producers are able to accurately forecast demand. Example would be a car manufacturer that operates with very low inventory levels, relying on their supply chain to deliver the parts they need to build cars. The parts needed to manufacture the cars do not arrive
This method involves the use of a highly structured meeting, complete with an agenda, and restricts discussion or interpersonal communication during the decision‐making process. This technique is useful because it ensures that every group member has equal input
good life is. Occasionally, some particular people started not to give any attention to these philosophers, who accused Socrates. They did not have any point to prove what means to live a good life. Since some of them are high official and take advantage of their positions. Therefore, Socrates first attempt to the people of Athens was by asking, ”What is the good life?” He was questioning a simple question to the normal standard people. Socrates started to become popular, and some young crowd liked
Derived from the Greek word trierês, meaning three-fitted and referring to its three banks of oars, came the trireme – the most successful warship of the Mediterranean. Most scholars give the Phoenicians credit for first inventing the trireme, while according to Thucydides, the Corinthians were the first of the Greeks to adopt triremes around seventh century B.C.E.. The trireme succeeded the pentekonter, a ship with a single bank of 50 rowers. They were owned by triearchs – rich men appointed
It implies that the identification of risks relies mostly on past experience that should be used in upcoming projects. Risk identification methods generally include brainstorming, expert analysis/interviews, risk checklists modeling and analyzing different scenarios and analyzing project plans. Additionally, sources of risk or uncertainty and sources of known unknowns should be listed. Hazard
Abstract :Evaluation of non-technical parameters for supplier selection in Multi-attribute single or multi item Procurement systems has been a point of concern for many organization and research experts across the globe. Many theories, models and methods have been designed to address this challenges to develop a ready to use off-the-shelf solution. One such theory is Grey System Theory (GST). Through a numerical example in manufacturing sector, this paper depicts the implementation of GST for supplier