NMIMS SOLVED ASSIGNMENT JUNE 2023,
NMIMS SOLVED ASSIGNMENT SOLUTION,
NMIMS SOLVED ANSWERSHEET JUNE 2023
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Production & Total Quality Management

Q1. "Lean Thinking defines value as providing benefit to the customer; anything else is waste." Considering this fact, describe the different principles of lean thinking that strives for continual development.

Q2. "Quality is never an accident. It is always the result of intelligent effort.", Understanding the fact explains in detail the different techniques of quality management.?

Q3. "The more inventories a company has, the less likely they will have what they need."

a. Inventory is a necessary evil; identifying this concept; explain the different tools for inventory control.

b. Inventory management is an essential element in business success; based upon the same concept, what kind of decision model should be adapted for managing the inventory of the business (Hint: Explain EOQ Model including Advantages & Disadvantages).