Major Concepts in Operations and Supply Chain Management|Quick homework help

Posted: March 13th, 2023

DISCUSSION QUESTION: 6-7 SENTENCES

 

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What is one of the major concepts that have defined the Operations and Supply Chain Management field? Why is it important to the way we run organizations today?

SOLUTION

One major concept that has defined the Operations and Supply Chain Management field is the idea of Lean Management. Lean Management is a systematic approach to identifying and eliminating waste (non-value added activities) in the production process, ultimately increasing efficiency and reducing costs. Lean Management originated from the Toyota Production System in the 1950s, and it has since been adopted by many industries worldwide. The approach involves optimizing processes to increase value to customers, reducing waste and improving quality, and creating a culture of continuous improvement.

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