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Push–pull Strategy
The business terms ''push'' and ''pull'' originated in logistics and supply chain management, but are also widely used in marketing and in the hotel distribution business. Walmart is an example of a company that uses the push vs. pull strategy. Supply-chain management Complete definition There are several definitions on the distinction between push and pull strategies. Liberopoulos (2013) identifies three such definitions: # A pull system initiates production as a reaction to present demand, while a push system initiates production in anticipation of future demand. # In a pull system, production is triggered by actual demands for finished products, while in a push system, production is initiated independently of demands. # A pull system is one that explicitly limits the amount of WIP (works in progress) that can be in the system, while a push system has no explicit limit on the amount of WIP that can be in the system. Other definitions are: * ''Push'': As stated by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CONWIP English
Constant work in process or CONWIP are pull-oriented production control systems. Such systems can be classified as pull and push systems (Spearman et al. 1990). In a push system, the production order is scheduled, and the material is pushed into the production line. In a pull system, the start of each product assembly process is triggered by the completion of another at the end of production line. This pull-variant is known for its ease of implementation. CONWIP is a kind of single-stage kanban system and is also a hybrid push-pull system. While kanban systems maintain tighter control of system WIP through the individual cards at each workstation, CONWIP systems are easier to implement and adjust, since only one set of system cards is used to manage system WIP.Marek, Richard P. et al., Understanding the fundamentals of Kanban and CONWIP pull systems using simulation, Proceedings of the 2001 Winter Simulation Conferenc/ref> CONWIP uses cards to control the number of Work in pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Point Of Sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt, as proof of transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are avail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Strategy
Marketing strategy refers to efforts undertaken by an Organizational structure, organization to increase its sales and achieve competitive advantage. In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information. Strategic marketing emerged in the 1970s and 1980s as a distinct field of study, branching out of strategic management. Marketing strategies concern the link between the organization and its customers, and how best to leverage resources within an organization to achieve a competitive advantage. In recent years, the advent of digital marketing has revolutionized strategic marketing practices, introducing new avenues for customer engagement and data-driven decision-making. Marketing management versus marketing strategy The terms “strategic” and “managerial” marketing distinguish between two processes, each with different goals and concep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Making
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action. Research about decision-making is also published under the label problem solving, particularly in European psychological research. Overview Decision-making can be regarded as a problem-solving activity yielding a solution deemed to be optimal, or at least satisfactory. It is therefore a process which can be more or less rational or irrational and can be based on explicit or tacit knowledge and beliefs. Tacit knowledge is often used to fill the gaps in complex decision-making processes. Usua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lean Thinking
Lean thinking is a management framework made up of a philosophy, practices and principles which aim to help practitioners improve efficiency and the quality of work. Lean thinking encourages whole organisation participation. The goal is to organise human activities to deliver more benefits to society and value to individuals while eliminating waste. History The term "lean thinking" was coined by mechanical engineer and MIT graduate student John Krafcik in 1988, who subsequently went on to run Google LLC's autonomous driving unit for many years. Principles Lean thinking is a way of thinking about an activity and seeing the waste inadvertently generated by the way the process is organized. It uses five key principles: *Value *Value streams *Flow *Pull *Perfection The aim of lean thinking is to create a lean culture, one that sustains growth by aligning customer satisfaction with employee satisfaction, and that offers innovative products or services profitably while minimizin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Issue Tracking System
An issue tracking system (also ITS, trouble ticket system, support ticket, request management or incident ticket system) is a computer software package that manages and maintains lists of issues. Issue tracking systems are generally used in collaborative settings, especially in large or distributed collaborations, but can also be employed by individuals as part of a time management or personal productivity regimen. These systems often encompass resource allocation, time accounting, priority management, and oversight workflow in addition to implementing a centralized issue registry. Background In the institutional setting, issue tracking systems are commonly used in an organization's customer support call center to create, update, and resolve reported customer issues, or even issues reported by that organization's other employees. A support ticket should include vital information for the account involved and the issue encountered. An issue tracking system often also contains a k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Marketing
Digital marketing is the component of marketing that uses the Internet and online-based Information technology, digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services. It has significantly transformed the way brands and businesses utilize technology for marketing since the 1990s and 2000s. As Digital platform (infrastructure), digital platforms became increasingly incorporated into marketing plans and everyday life, and as people increasingly used digital devices instead of visiting physical shops, digital marketing campaigns have become prevalent, employing combinations of methods. Some of these methods include: search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, Email marketing, e-mail direct marketing, display a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply And Demand
In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris_paribus#Applications, holding all else equal, the unit price for a particular Good (economics), good or other traded item in a perfect competition, perfectly competitive market, will vary until it settles at the market clearing, market-clearing price, where the quantity demanded equals the quantity supplied such that an economic equilibrium is achieved for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics. In situations where a firm has market power, its decision on how much output to bring to market influences the market price, in violation of perfect competition. There, a more complicated model should be used; for example, an oligopoly or product differentiation, differentiated-product model. Likewise, where a buyer has market power, models such as monopsony will be more a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CONWIP
Constant work in process or CONWIP are pull-oriented production control systems. Such systems can be classified as pull and push systems (Spearman et al. 1990). In a push system, the production order is scheduled, and the material is pushed into the production line. In a pull system, the start of each product assembly process is triggered by the completion of another at the end of production line. This pull-variant is known for its ease of implementation. CONWIP is a kind of single-stage kanban system and is also a hybrid push-pull system. While kanban systems maintain tighter control of system WIP through the individual cards at each workstation, CONWIP systems are easier to implement and adjust, since only one set of system cards is used to manage system WIP.Marek, Richard P. et al., Understanding the fundamentals of Kanban and CONWIP pull systems using simulation, Proceedings of the 2001 Winter Simulation Conferenc/ref> CONWIP uses cards to control the number of Work in proce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kanban
Kanban ( meaning signboard) is a scheduling system for lean manufacturing (also called just-in-time manufacturing, abbreviated JIT). Taiichi Ohno, an industrial engineer at Toyota, developed kanban to improve manufacturing efficiency. The system takes its name from the cards that track production within a factory. Kanban is also known as the ''Toyota nameplate system'' in the automotive industry. A goal of the kanban system is to limit the buildup of excess inventory at any point in production. Limits on the number of items waiting at supply points are established and then reduced as inefficiencies are identified and removed. Whenever a limit is exceeded, this points to an inefficiency that should be addressed. In kanban, problem areas are highlighted by measuring lead time and cycle time of the full process and process steps. One of the main benefits of kanban is to establish an upper limit to work in process (commonly referred as "WIP") inventory to avoid overcapacity. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Work In Process
Work in process or work-in-process, (WIP), work in progress (WIP), goods in process, or in-process inventory refers to a company's partially finished goods waiting for completion and eventual sale, or the value of these items. The term is used in supply chain management, and WIP is a key input for calculating inventory on a company's balance sheet. In lean thinking, inappropriate processing or excessive processing of goods or work in process, "doing more than is necessary", is seen as one of the seven wastes (Japanese term: '' muda'') which do not add value to a product. WIP inventory in supply chain management WIP inventory calculations can help a company assess their supply chain health and guide in supply chain planning. In most cases, it is ideal to have low WIP inventory levels, and companies that manage their inventory level efficiently tend to have lower costs. Managing WIP inventory requires coordination between several functions within a company, as well as with supplie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
