Choose a simple, common process and create a value stream map containing the current state, plus a realistic future state, and implementation plan
What will be an ideal response?
Answers will vary. See the outline below for steps to be followed and information to be included.
VSM analysts begin by selecting a product family for which the mapping will be done. This is followed by drawing a current state map of the existing production situation, and gathering and including all pertinent information on material and information flows (cycle times, scrap rates, machine uptime, batch sizes, etc.). Once the current state map is completed, the analysts use lean systems principles (e.g., load leveling, pull scheduling, Kanban systems) to create a future state map with more streamlined product flows. In this step, sources of waste are highlighted, and means for eliminating them are identified. Finally an implementation plan for achieving the future state is developed, which then becomes the blueprint for implementing and fine tuning a lean system. The process does not stop here, but provides continuous improvement opportunities as a new future state map is drawn after the lean system has been further improved.
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In Vagias v. Woodmont Properties, Vagias wanted to buy a house in Montville. He told his real estate agent that he wanted to buy in that location because of the school district's reputation. The agent showed him a house in a development called "Woodmont Court at Montville." Vagias asked if the house was within the jurisdictional limits of Montville. The agent and a representative for the builder, neither of whom were familiar with the township boundaries, assured him it was within the city limits. Vagias bought the house but was unable to enroll his son in the school district because the property was outside the city limits. Vagias sued, claiming he paid a premium for the house based on the school district's reputation. The homebuilder argued that the misrepresentations were
unintentional and that Vagias did not suffer a loss in the value of his home. The court held that A. Woodmont was liable because the real estate agent showed Vagias a house that did not meet his requests. B. Woodmont was not liable because the New Jersey Consumer Fraud Act does not apply to real estate. C. Woodmont was not liable because the misrepresentation was not intentional. D. Woodmont was liable because the location of the house was the basis of the bargain and the misrepresentation was affirmative, thus meeting the requirements of the New Jersey Consumer Fraud Act.
The primary internal factor to be considered in product pricing is the cost of the product or service
Indicate whether the statement is true or false
Alderfer's Needs Hierarchy collapses ______ five needs into three categories
Fill in the blank(s) with the appropriate word(s)
Which of the following statements about using dramatics as part of a sales presentation is most likely true?
A. Television commercials are a source of ideas for dramatizations. B. A theatrical movie showing the history of the company is an example of dramatization. C. A salesperson's own uncertainty about the use of dramatics increases the positive impact on the prospect. D. Using dramatic demonstrations fails to set a salesperson apart from the majority of other salespeople. E. Dramatics should be incorporated into all sales presentations due to their success rate.