Manufacturing Today - Winter 2011 - (Page 12)

COLUMN BY BILL HAMMOND M F G TOMORROW B USINESS VALUE N EWS S U STA I N A B I L I T Y P RODUCTIVITY I MPROVEMENT C ONTENTS D IALOGUE Get the Facts! how to solve downtime challenges in manufacturing ////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Pioneered by Toyota in the early 1970s, just-in-time (JIT) manufacturing techniques and lean production practices were adopted by many manufacturing concerns and other sectors in the 1980s and, particularly, the 1990s. At a conceptual level, the justification for JIT was, and is, simple: Minimize inventories to reduce carrying costs and improve cash flows. Yet, there is more to it than that. Beyond just keeping materials and finished goods flowing smoothly to minimize M F G TOMORRO N EWS A CCOUNTING C ONTENTS D IALOGUE P RODUCTIVITY B USINESS VALUE I MPROVEMENT on-hand inventories, all manufacturers—from heavy-duty industrial and automotive to consumer products and packaged goods—also strive to maximize the value of time. Ideally, the business should be functioning at peak output and optimal quality levels every second of every business hour of every business day. And, for many companies, those business hours and days are 24/7. Every manufacturer knows that operational downtime in any area of the company can be extremely costly. Employees are idled. Production halts. Revenues stop flowing. Penalties may be assessed if contractual requirements are not met. The list of downtime costs goes on and S U STA I N A B I L I T Y 12 WINTER 2011

Table of Contents for the Digital Edition of Manufacturing Today - Winter 2011

Manufacturing Today - Winter 2011
Global Strategies
Business Value
Freudenberg Household Products
O.K. Foods Inc.
DJO Inc.
CMC Biologics
Packaging Progressions Inc.
Denison Industries
Burr Oak Tool Inc.
Cambridge International
Certified Transmission
Elopak Inc.
Patriot Forge Co.
Aseptic Solutions USA
Comex Group/Frazee Paint
Fabrica Fine Carpet and Rugs
Munroe Inc.
Peerless Mfg. Co.
Canplas Industries
Mettler-Toledo Hi-Speed
R.F. Hunter Co.
Ace Electronics
Advanced Fiber Technologies
Behringer Saws Inc.
Berger Paints – Trinidad Ltd.
DBS Manufacturing Inc.
DDH Enterprise
Deltak LLC
EVS Metal
Fisher Tank Co.
Hanford Pharmaceuticals
Hess Industries Inc.
Holjeron Inc.
Mid-Continent Engineering
New England Ropes
Ranor Inc.
SET Enterprises Inc.
Swaim Inc.
Total Electronics LLC
Weinbrenner Shoe Co.
Manufacturing Tomorrow

Manufacturing Today - Winter 2011