Cycle Time, Inventory, and The Theory of Constraints

Inventory is one of the Toyota Production System's Seven Wastes, and it is directly proportional to cycle time; the amount of time necessary for a customer order to go through a manufacturing (or service) process. The Theory of Constraints explains why most cycle time is waste in most processes. First, no process can operate more rapidly than its constraint or capacity-constraining resource (CCR). Second, favorable variation in processing times does not offset unfavorable variation because time lost at the constraint is lost forever. (This also explains traffic jams that appear out of nowhere during rush hour.) This webinar will explain the Theory of Constraints and also provide attendees with production control methods to reduce inventory and cycle time enormously.

William A. Levinson

https://www.compliancetrainingpanel.com/Webinar/Topic?WB=MP00104