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Lean production - Coggle Diagram
Lean production
Advantages
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Reduce unit costs, increase profits
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Relate with other topics
HR
LP may involve rationalisation of workforce in favor of capital equipment that is more efficient - this will affect motivation
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Finance
finance needs to be substantial for LP to be successful - may be unsuitable for small business with limited access to finance
expensive in SR, but can be profitable in LR
Business objectives
LP should be a culture in business that has sustainability/CSR as an objective as it emphasises reduction of waste
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Definition: producing goods and services with minimum wasted resources while maintaining high quality