SINGLE MINUTE EXCHANGE OF A DIE (SMED)

March 24, 2010

SINGLE MINUTE EXCHANGE OF A DIE (SMED)

SMED is one a lean production method for reducing needed time and waste in a manufacturing process. With the help of SMED a company gets a rapid and efficient way to convert a manufacturing process from running the current product to running the next product. Thus it is possible to have a more flexible production (smaller production lots), as the production changeover needs less time. The phrase one minute has not to been taken by word, it only means that the needed time for each production change should stay below 10 minutes.

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INTRODUCTION TO LOGISTICS

March 11, 2010

1. INTRODUCTION

GENERAL THINGS AND KNOWLEDGE OF LOGISTICS

  • World’s GDP was growing nearly by the factor ten, since 1990.
  • World trade in manufacturers multiplied by 80, in the last 50 years.

–> Why did the world trade grow so much/ Which changes happened?

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RELATIONS BETWEEN PRICE; VALUE AND COSTS

March 6, 2010

SHORT DESCRIPTION OF THE TERMS

PRICE: The ability to charge for a product/ service dependent on supply and demand. One of several variables a customer considers in his or her purchasing decision. Furthermore the price is not only financial, it also contains e.g. the time a customer needs to learn to use a product.

COSTS: How much it costs you to produce a product or to execute a service. Costs can be divided into variable and fixed costs.

VALUE: Extent to which a good or service is perceived by its customer to meet his or her needs/wants. It is measured by customer’s readiness to pay for it. The dominant influencing factor is the customer’s perception of the product’s worth, and not the intrinsic value itself. Therefore perceived values can differ between customers. (Marketing view)

–> I’ve chosen a definition out of marketing as in my mind it fits the most to logistics. Read the rest of this entry »