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The 14 Principles Of The Toyota Way

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Toyota has based its efficient and effective production system on 14 management principles as described in The Toyota Way book by Jeffrey K Liker. The 2 pillars of their lean system which support the principles of the Toyota Way are:- Continuous Improvement – challenge everything (create an atmosphere of continuous learning) Respect for people –engage employees by promoting active participation in improving their everyday job    The 14 Lean Management Principles are: Principle 1 –Base your management decisions on long term philosophy, even at the expense of short term financial goals. Principle 2 –Create continuous process flow to bring problems to the surface. (Just In Time) Principle 3 –Use pull systems to avoid ‘overproduction’. Principle 4 –Level out the workload. (Eliminate waiting) Principle 5 –Build a culture of ‘stopping to fix problems’ to get quality right. (Eliminate rework)   Principle6 –Standardized tasks are the foundation for continuou...

e-Procurement or Manual procurement?

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e-Procurement or electronic procurement refers to the process of purchase and sale of goods or services through electronic methods, primarily the Internet.  Supply Chain Management is vital for any business. Organizations invest a lot of resources in the process of procuring goods, services and raw materials. So, an efficient and stream lined procurement process is a huge advantage for businesses. e-Procurement consists of Indent Management, RFX creation, e-Tendering, e-Auctioning, Vendor Management and Contract Management among other processes. An e-Procurement solution can automate the whole process, thus saving the organizations from the hassle and irregularities involved in manual procurement. The e-Procurement suites may differ on the basis of what they offer to the user. The main components of a typical e-Procurement suite are the follows- 1. Indent Management: This process is basically the first step involved in e-tendering . Indent creation or the creatio...

Five Reasons You Should Consider a Career in Logistics

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Logistics is one of the most important career fields in the world. Without the planning and execution of the distribution of resources, society as we know it would cease to function and food shortages would cause chaos around the world. Every company uses logistics even though full-time logistics managers may not be employed. The work of a logistician begins with bringing in the supplies and raw materials necessary for a business or organization to operate.  Inbound logistics are then used in conjunction with outbound logistics to distribute products or services where they are in demand.If you are thinking about a career change, the field of logistics has much to offer. New opportunities are opening in logistics:  Estimates provided by the U.S. Department of Labor show that logistics jobs will increase in number by 25.5 percent from 2010 to 2020. This estimate means that an additional 27,800 jobs will have been created in this timespan. Advancement op...

In Bangladesh which institutions provide MBA in supply chain management?

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In Bangladesh which institutions provide MBA in supply chain management? The most awaited blog is here. Today I will share with you the name of the universities of Bangladesh that provide supply chain management masters programs. It will help you to identify the course for your higher study. The institution names are given below ( If your institution provide this course feel free to share with me we will add that)  1) Brac University - Masters in Procurement and Supply Management - MPSM 2) BUP - MBA in Supply Chain Management  3) IBA, DU - MBA in Operation Management 4) Chattragram University - MBA in Supply Chain Management 5) International Islamic University Chittagong 6) Army IBA - MBA in Supply Chain Management 7) American International University of Bangladesh (AIUB) 8) United International University (UIU) 9) Sonargaon University (SU)  10) IIU-International Islamic University  11) East Delta University There are som...

In Bangladesh which institutions provide Bachelor Degree in supply chain management?

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In Bangladesh which institutions provide Bachelor Degree in supply chain management? Hi, I am Gazi Sanaul Hasan. I am Logistics & Supply Chain Engineering graduate from the Infrastructure University Kuala Lumpur. I am a Certified Six Sigma Yellow belt with a year of experience in different industries in Malaysia.  Today I will share with you the name of the universities of Bangladesh that provide supply chain management degree programs of 4 years. It will help the youth to identify the course for their future study. We need to go chronologically. There are so many esteemed institutions that provide "Bachelors in Business Administration" major in supply chain management. The institution names are given below ( If your institution provide this course feel free to share with me we will add that)  North-South University (Program: BBA in Supply Chain Management)  The American International University of Bangladesh (Program: BBA i...

10 Simple Ways to Cut Business Costs

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In an uncertain economy when every penny counts, even the smallest increase in revenue or reduction in expenses can have an impact on company profitability.Mid-year is a good time to step back and look carefully at our business practices. -Reduce supply expenses.          -Cut production costs. -Lower financial expenditures.              -Modernize your marketing efforts. -Use efficient time strategies.          -Harness virtual technology. -Focus on quality. -Narrow your focus.                                - Maximize your employees' skills. Cutting operating costs for your small business isn’t impossible, but depending on how comfortable you are working within a lean budget, it can take some getting used to. -Gazi Sanaul Hasan

Role of Project Management within procurement and supply chain

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Project management principles are essential in order to successfully manage business change. Initiatives, either improvement or strategic, are commonplace. This is especially true within the supply chain function. For example, consider the activities that are carried out as part of improvement programs in many organizations these may include: • Outsourcing key activities like assembly or manufacture • Moving from a local to global supply chain • Supplier rationalization • Deploying corporate deals • Cost reduction programmes • Lead time reduction programmes • Inventory rationalization • Technology deployment An all too common issue is where businesses appoint personnel who have no formal project skills or experience to deliver. This lack of experience and use of appropriate tools and methods can dramatically impact cost and schedule and more impact heighten the risk of project failure.  So what disciplines does project management provide and why is this an...