Just-In-Time Inventory Management
Maintaining appropriate levels of inventory is a fundamental aspect of operations. In order to insure a smooth flow of work and delivery to customers, companies need to keep some amount of both raw materials and finished product on hand. But histori...
Production and Operations Case Study: Rutherford Hill Winery
Rutherford Hill Winery is located in California's Napa Valley, one of the most prolific winegrowing regions in the world. Efficient production and operations at a winery like Rutherford Hill requires skillful management that includes: carefully anal...
Increasing Operational Efficiency
Whether they manufacture a physical product or provide a service, all companies have similar needs for efficiency in operations. This applies to scheduling, inventory, organizing employees, quality and productivity. More and more companies are using...
Operational Efficiency Case Study: General Dynamics
General Dynamics' Convair Division produces weapons for the military. Under pressure to increase efficiency, the company instituted "just-in-time" production in 1990. In addition, Convair installed an automated warehouse system and began training wo...
Japanese and American Production Models
As long as other countries lacked industrial capacity, especially following World War II, U.S. companies could absorb tremendous inefficiency and still compete. All that changed when the Japanese developed new methods of integrating various aspects ...
How Much Startup Capital Will I Need?
This clip explores the challenge of figuring out how much capital is needed for a new business. Because income can be extremely limited during the early stages of a business, it's especially important to accurately project expenses. Some of the more...
Does Order of Operations Matter?
Algebra includes addition, subtraction, multiplication and division which are called operations. In an algebraic expression, these operations are completed in a certain order. The order of these operations is discussed in this clip.
Mathematics in the Business World
An introduction to the world of business math, rationale for studying the subject and an important look at the value of strong math skills.