Issues of Production & Manufacturing Management

A Summary of Managing in the New World of Manufacturing

The First Law of Manufacturing Control.....................1

Evolution, Facts and Fables................................4

Manufacturing as a Process.................................8

Strategic Planning.........................................10

The System and Its Role....................................14

Effective Execution and Control............................17

Measures of Performance. ..................................21

Manufacturing in the Future................................22

Conclusion.................................................27

Managing in the New World of Manufacturing - A Summary

Chapter 1 - The First Law of Manufacturing Control

The first law of manufacturing control involves a basic element of the physical world: time. According to George W. Plossl(s Managing in the New World of Manufacturing time, particularly the inability to manage it is why (manufacturing is out of control( (p.1). In order to understand why this is and what can be done about it, a little historical background of manufacturing is in order because it specifically relates to why it is (out of control.( Plossl strongly emphasizes that to manage in today(s world of manufacturing, current corporations must understand exactly why ti

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s life cycle could give the licensing firm considerable market breadth. Cross-licensing agreements are often found in industries in which R&D and other fixed costs are exorbitant, but where aggressive competition is needed to maintain industrywide discipline and innovation. The pharmaceutical and chemical industries are replete with cross-licensing agreements between global firms. Firms willingly license their newest technological breakthroughs to one another in order to amortize R&D costs and to promote specialization of different research-based competencies (Barker, 1992, p. 132). Finally, consumer nondurables, industrial equipment, and defense firms often engage in licensing and cross-marketing agreements to ensure a steady supply of service contracts and equipment upgrades to the licensee. Over the past ten years, we have witnessed a tremendous surge in the number and types of strategic alliances formed between multinational corporations across many industries. This is what strategic planning means in today(s manufacturing world. In a world where coping with existing business challenges already presses the limits of most small-company managers, dealing with the new supply-base competition may seem an impossible task. Eve
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Approximate Word count = 6841
Approximate Pages = 27 (250 words per page)

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