Cycle Time, Inventory, and The Theory of Constraints

Date	Jul 11, 2018
Time	02:00 AM EDT
Cost	$179.00
Online

Inventory is one of the Toyota Production System's Seven Wastes, and it is directly proportional to cycle time; the amount of time necessary for a customer order to go through a manufacturing (or service) process. The Theory of Constraints explains why most cycle time is waste in most processes. First, no process can operate more rapidly than its constraint or capacity-constraining resource (CCR). Second, favorable variation in processing times does not offset unfavorable variation because time lost at the constraint is lost forever. (This also explains traffic jams that appear out of nowhere during rush hour.) This webinar will explain the Theory of Constraints and also provide attendees with production control methods to reduce inventory and cycle time enormously.

Objective :
Attendees will learn Dr. Eliyahu Goldratt's Theory of Constraints, understand how variation in processing and material transfer times make it impossible to operate a balanced factory at full capacity. Attendees will also learn about the drum-buffer-rope (DBR) production control system that confines inventory to a buffer at or leading to the capacity-constraining resource to ensure that it never runs out of work, while eliminating inventory from the rest of the process.

Venue:Online
Speaker Name:William A. Levinson
Wednesday, July 11, 2018 
EST 13:00
Duration : 60 Minutes
Tel: +1-844-216-5230
Email: support@compliancetrainingpanel.com