Just in Time Manufacturing Concept JIT Philosophy: With the progression in product-process technologies and the hybrid manufacturing systems, the Japanese have been perfecting a manufacturing system called ‘Just in Time’ or ‘JIT’. This JIT operating system is nothing but a production strategy that strives to improve business return on investment by reducing in-process inventory and associated carrying costs. The JIT purchasing system has emphasis on timing to supply materials just in time for use on the factory floor. Equally important emphasis is given to close and long term relationship with a few suppliers. The suppliers in JIT manufacturing are geographically closely located. Specifications: Producing and delivering finished goods ‘just in time’ to be sold Partly finished goods ‘just in time’ to be assembled into finished goods Parts ‘just in time’ to go into partly finished goods Materials ‘just in time’ to be made into parts. Loose specifications instead of rigid product specifications are used which leads to best use of supplier specialization and expertise for low cost and better quality. Frequent deliveries (daily deliveries) of small lots of exact quantities required are supplied directly to the shop floor avoiding large inventories, paper work and double inspection. The JIT system underlines the mutual confidence between buyer and supplier and long term relationship. This leads to investment by the supplier for the benefit of the buyer in terms of plant and equipment for improvement of quality, reduction of cost and shortening manufacturing lead times. Where does the responsibility lie? ‘The responsibility for the quality rests with the manufacturer of the part’ is the principle behind this Japanese practice. The primary responsibility for quality is transferred from quality control department to the production department. The quality control is considered a line function rather than staff function. The processes are designed to have less specialization on the part of workers. The physical layout is arranged in such a way that workers can operate two or three machines effectively and thereby become multifunctional. Good Quality First Time Every Time: Workers are organized in small closely linked groups thereby building team work. The production for each stage is planned in small lot sizes just meeting the needs of the subsequent stage. The system is such that even if one item produced is substandard, it would affect subsequent processes causing shortages and exposing the process or worker who has produced substandard item. This acts as a great motivator to produce good quality first time, every time. This also heightens the awareness among the workers about the inter dependence of processes. Taiichi Ohno, Father of the Toyota Production System saw this as an attribute rather than a problem. He used an analogy of lowering the water level in a river to expose the rocks to explain how reducing inventory showed where production flow was disrupted. Once bottle necks were exposed, they could be rectified or removed. Since one of the main barriers was rework, lowering inventory shoved each shop to improve its own quality. Just-in-time is a means to improving performance of the system, not an end. The result of the Japanese manufacturing system is quite pervasive in the areas of: Reduction in inventory Reduction in scrap Reduction in work Reduction in indirect costs Reduction in spare Reduction in administrative costs Increase in motivation of workers Increase in quality Better response to customers Better system flexibility and quicker response. What is kanban? Kanban is Japanese for “visual signal” or “card.” Toyota line-workers used a Kanban (i.e., an actual card) to signal steps in their manufacturing process. The system’s highly visual nature allowed teams to communicate more easily on what work needed to be done and when. It...

Entrepreneurs are the mechanism by which our economy turns demand into supply. They create new ventures that provide new, improved products and services. Here we list some of the principal qualities of entrepreneurs and how those qualities help in shaping up our economy. Productivity Accelerators: Entrepreneurship raises productivity through technical and other forms of innovation. Entrepreneurs as risk bearers find resources and fill market gaps that would be missed by larger, more bureaucratic organizations. They allow a country to extract every last bit of marginal capacity out of whatever resources exist within the society. Brilliant Tips on Productivity by some Popular Entrepreneurs: Focus on one thing at a time: It may seem like a no-brainer, but multitasking can actually cut back on your productivity. Instead of juggling multiple projects at once, schedule out blocks of time — or even entire days — during which you only focus on one task or one project. Steph Auteri, @stephauteri, Word Nerd Pro Outsource, outsource, outsource: Everything may be a priority, but you are not equally brilliant at everything. Eliminate the unnecessary tasks and outsource your weaknesses so your time and focus is directed to where you’ll make the biggest impact for the business. Kelly Azevedo, @krazevedo, She’s Got Systems Define roles and divide work: Make sure everyone on the team has distinct roles defined, and divide work accordingly. Everyone on a proactive team will want to do everything, and clearly defined roles make it clear who should do what. David Gardner, @david_gardner, ColorJar Job Creators: It is a powerful tool of job creation –Entrepreneurship as a whole contributes to social wealth by creating new markets, new industries, new technology, new institutional forms, new jobs and net increases in real productivity. The jobs constructed through their activities in turn lead to equitable distribution of income which leads to higher standards of living for the population. Entrepreneurship facilitates the transfer of technology. Entrepreneurs play a strategic role in commercializing new inventions and products. They play a critical role in the restructuring and transformation of economy. Their behavior breathes vitality into the life of large corporations and governmental enterprises. Market Competitiveness: They make the markets more competitive and thereby reduce both static and dynamic market inefficiencies. Micro-preneurs working in the informal sector circumvent established government authority when governments and their programmes inhibit economic development. They stimulate redistribution of wealth, income and political power within societies in ways that are economically positive and without being politically disruptive. Social Welfare: They improve social welfare of a country harnessing dormant, previously overlooked talent. They create new markets and help in expansion into international markets. The unique feature of entrepreneurship – that it is a low cost strategy of economic development, job creation and technical innovations. Technology Innovation: Technology entrepreneurship is also important for sustainable development as Nobel Prize Laureate prof. Dan Schechtman puts it: “Technological entrepreneurship is a key to the well-being of the world”. India has been the first among the few developing countries to have assigned a significant and categorical state role to small scale industries from the first Five Year Plan itself, and the small scale sector has emerged as a dynamic and vibrant sector of the economy during the eighties. If the country develops pucca infrastructure and removes the hurdles in the operative environment politically and legally, no doubt the Indian economy will be scaling to greater heights. Surplus manpower (educated and un-educated), which has been a great liability can become an asset once those with potential are selectively groomed for self-employment and enterprise formation, leading to further job...

Basic Trends in HRD – #Human Resource Development The basic motive of HRD would be to develop an enduring and healthy #work culture. It should also take into its fold the #training and developmental aspects of the workforce that forms the significant segment of the organization. It is a means to improve the overall organizational effectiveness but not an end in itself. HRD Philosophy: The philosophy of an organization is understood through #policies and operations and not merely through its programmes. HRD policies, #plans and action must commence from business #strategy. The key to the success of HRD is undoubtedly good industrial relations enhanced by effective #employee participation and existence of good #collective bargaining machinery. A Source of Motivation: Though #man power planning, training and #appraisal seem to be the core activities of HRD, it must also be used as an instrument for changing the work culture and motivating the workforce. This considerably improves the network of communication resulting in a sea change or turn around in terms of employee participation and #commitment. Concept of HRD: The #business environment is dynamic and so are the demands of the market. It is but important to review the organization structure to meet these demands of the changed environment. To establish and endure a #productive work culture to bring about improvements in organizational as well as technological disciplines. To train and develop employees in new skills for new #technology advanced operations and effective #performance. To bring about progress in the motivational #climate of the organization To bring the systems and procedures in line to deliver the expected results To reinforce participative culture and safety systems To maintain peaceful industrial relations in the production environment To revamp man power planning in order to match the individuals with jobs to #optimize utilization of available skills. Changing Environment: The process of HRD is directly linked to OD to facilitate the development of an organization in totality. To restructure organization in terms of #physical resource, #monetary resource and technology, one has to first understand the changes happening and challenges existing in the immediate external environment. Some of them would be #Competitor Pressure #Globalization of markets Rising aspirations of people at large Governmental policies etc., How has HR used #social media? A relatively late-adaptor, HR has largely used social media in recruitment…and indeed how!!! – In 2010 in US, only 6% of companies were using social media for recruitment, now that has exploded to 89% – 82 of the Fortune 100 companies uses the corporate hiring solutions of #LinkedIn – About 21% of working professionals are looking for a job – social media helps companies tap into the other 79% as well. Bullhorn’s 2012 Social Recruiting Activity Report says:“A #Twitter follower is almost 3 times more likely to apply to a job posting than a LinkedIn connection and 8 times more likely to apply than a #Facebook friend.” Human Resources professionals understand that social media ishere to stay…That’s the easy answer!!!The challenge is integrating use of a cohesive, relevant andeffective social media strategy aligned to the overall HR & business strategy of the organization. Information Courtesy – by National HRD...

Resume for Sales Know the purpose of your resume Need help in creating or updating your resume? It certainly can be a tough task because your resume is going to be reviewed by software as well as by hiring managers. This new column brings you  top resume tips for choosing a resume format, selecting a resume font, customizing your resume, using resume keywords, explaining employment gaps, and more tips for writing interview winning resumes. Try to understand that the purpose of  building your resume is to land an interview and make it as precise as possible and impress the recruiters with your profile. Business and Marketing Writing   A great resume is one that highlights your strengths and emphasizes the highs of your career. It is imperative for every professional to get his resume periodically updated to move up the corporate ladder. A resume has four sections: Personal Information. This includes your full name, city, contact number, e-mail address and social media profiles. Your personal information can appear at the top center part of the resume with a header positioned below it. Employment History. Your work history must be arranged beginning from current or most recent employer. It must indicate your designation, inclusive dates of employment and a description of your scope of responsibilities. Educational Attainment. This should also be arranged according to highest level of education attained. Details should include degree earned, inclusive dates and relevant awards or achievements. You do not have to include information from secondary education and earlier. Special Skills. This section is where you highlight core competencies and other skills you have that are relevant to the job opening. What are the key ingredients of a great resume? A sparkling profile with sufficient emphasis on your key strengths. A cover letter that guarantees a personal interview. Customized and tailor-made resumes. Designed by skilled resume writing experts. Professional formatting and layout. What should be there in a profile statement? Understand that highlighting your skills and experience in your profile is the “Catch Point” to impress your new recruiters. Financial Planning and Strategy, Marketing Concepts, Positioning, People Management, Territory Management, Sales Planning, Competitive Analysis, Understanding the Customer, Product Development, Client Relationships, Creative Services are some of the criteria that make a marketing/sales manager stand out from the crowd. Try to bring out the achievements in your career till date and who might be the better master to do it other than yourself! Q: What’s the most common resume mistake? A: Making too many general claims and using too much industry jargon that does not market the candidate. A resume is a marketing document designed to sell your skills and strengths rather than just portray a bio of the candidate. For unemployed candidates, handing out resumes should be a full-time job. The majority of mid- to senior-level positions are filled through networking, so contact absolutely everyone you know in addition to recruiters who are in a position to hire you or share...

STRATEGIC PLANNING Strategic planning is the primary step in the process of strategic management [Strategic management is a comprehensive topic that covers almost all the functional aspects of the organization] which can be outlined from at least two perspectives: First, strategy is the “broad programme for defining and achieving the objectives of an organization and implementing its mission”. Secondly, “It is the pattern of the organization’s response to the external environment over a period of time”. A strategy that takes a broad and typically long range focus is called strategic planning. MBA Application Strategies for Top Business Schools Strategic planning is the process that classifies the long range goals of the organization and opts for the precise means (strategies and polices) for achieving these goals, allocates resources, and develops long range plans to reach the destination.  Watch this Video to Understand the Overview of Strategic Planning Process Time-Horizon: Strategic planning takes into account the extended time horizon. There may not be any immediate impact out of strategic planning, but the consequences in the long-run prove to be gradual and significant as well. It provides with the necessary action plans to make a difference in vital areas concerning development. You can always associate innovativeness with strategy since it explores new paradigms and tries to enhance the impact. When the size of organizations expands, they are broken down into strategic business units (SBU’S) for the purpose of functional excellence. These units are expected to operate as if they were relatively independent businesses. WHY STRATEGIC LEADERSHIP IS IMPORTANT A Tailor Made Approach:  A tailor made approach is essential when it comes to strategy development the systematic analysis of the factors associated with customers and competitors (the external environment) helps the organization to meet the challenges of modern society. More and more organizations are focusing on formal approaches and concepts for planning their long range process. Specifically these challenges are a result of increasing rate of change, the complexity of manager’s jobs, the increasing importance of fitting the organization into external environment, and the increasing lag between the preparation of plans and their implementation in future. Resource Allocation: Strategic planning is an organization’s process of defining its strategy or course, and making decisions on resource allocations to pursue this strategy. Managers must be adequately geared up for strategic planning. The goals of the organization must be made plain and not unclear. Each business unit should be categorized based on its performance level to decide on the resource share to be allocated. You need to infuse cash flow into ineffectual units and divest funds from dying units into other profitable ones. The ultimate aim is to build up star performers that will be the perennial source of income or revenue generation. There should be a strong linkage between planning and control. The assessment of strategic plans of the business units must be made periodically and effectively. TOP FIVE REASONS WHY STRATEGIC PLANS FAIL SWOT Analysis: SWOT analysis is a strategic planning technique used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats. Planning is the primary step for control as it provides several standards and benchmarks of control. Planning extracts commitment. Some times planning highlights the objectives only and the planning premises may not be fully reliable. Threats are to be considered as challenges and must be converted into opportunities. Two heads are better than one is the philosophy of brain storming where a group of people with knowledge and expertise assemble to lay out clear plans that will steer the organization smoothly even in times of rough...