Economics of Manufacturing

Introduction

Lectures Group Work Project Work Individual Class Test

Ground Rules

Hand phones Nature Calls Questions and Answers Private conversations Participation Respect Timing

Assessment

Group Work

15 marks

Group Project Work

55 marks

Class Assessment (Closed Book)

30 marks

What Makes A Company Successful?

Is it operational efficiencies?

Quicker, better, faster

Is it having product and market leadership?

Loyal customers

Is it having leadership with vision and purpose?

Good management Building capable people for the future

Is it about having a learning organization?

Challenges for Companies

External Forces

Turbulent economic environment Competitors products and services Consumers demands, etc Culture, process, people, etc ....

Internal Forces

Quality

Cost

Delivery

Challenges in Mental Models

It is ones assumption about how the world works, which is affected by

Up bringing Education Temperament Experience, etc .

The glasses that we wear filters and often distort reality.

Companies Mental Models

Industrial to Knowledge Cosy to Competitive Local to Global Stability to volatility Intermediaries to direct, etc

3 Ps
Purpose
What is your purpose?

Process
What are your Processes to achieve your purpose?

People
How do you engage your people to achieve your purpose?

How do leaders lead?

The Leaders Responsibilities

Getting business results

Build a unified vision and purpose, etc Setting and maintaining standard work Solving daily performance problems ,etc Respect for people Lead in continuous improvement, etc

Building peoples capability

Building values

Purpose

Constancy of purpose

Single and shared mission Emergency room

True north provides guiding direction

Why do you exist as a company?

Process

The proper sequence of actions at the proper time to create value What is the hiring process? What is the delivery process?, etc The right process will get the right results Valuable as judged by the customer Capable with good results every time Available when needed Adequate with sufficient capacity Flexible to suite customers needs

People

How do you engage your people at every level of the organization to achieve the purpose? Teach them to take ownership Assign clear responsibility to the lowest level of action in the process Introduce end to end metrics vs. point metrics Teach problem solving skills, etc

Roles in the Company

Leadership
Direction setting Get feedbacks

Middle Management

Frontline Workers

Solves horizontal Stabilize processes Make improvements problems through standard work

How do we ensure that the connections are working?

Group Formation for Project

Form your group during break time Appoint a group leader

Select a name for your group

Each group should have a maximum of 6 members

Standard Format Use A4 paper

Group Name: Group Leaders Name: Group Leaders Email: Group Leaders Contact: Group Members Names: 1. 2. 3. Eg. ANDREW WIJAYA(ANDR0024)

Thank You