Everyone knows that “time is money” but this talk will show you that time is a lot more money than most managers realize.
On Thursday, August 13, 2019, The Women of Today’s Manufacturing (WOTM) is hosting a workshop on Quick Response Manufacturing (QRM): “It’s About Time! Increasing Your Manufacturing Competitive Advantage.”
Professor Rajan Suri, Founding Director of the Center for Quick Response Manufacturing at the University of Wisconsin-Madison will present the workshop at Cliffbreakers Riverside in Rockford. Professor Suri is the author of four books on QRM. He is an internationally acclaimed speaker and has received several awards for the development and implementation of QRM strategy in the U.S. industry.
QRM is a companywide strategy for lead time reduction throughout the enterprise. Its focus on lead time can reduce both response times and costs, and give companies a competitive edge in global markets.
QRM involves a new way of thinking about manufacturing. In particular, it requires a huge management paradigm shift from cost-based to time-based decision-making.
The following four core concepts of QRM will be discussed throughout the workshop:
1. The Power of Time: Why lead time is much more important than most managers realize, and how it influences total operating cost, quality, and on-time delivery.
2. Organizational Structure: How to restructure your organization to minimize lead time throughout the enterprise.
3. System Dynamics: How interactions between machines, people, and products impact your lead times. As a result, capacity planning, lot sizing, and other policies need to be rethought.
4. Enterprise-Wide Application: QRM is not just a shop floor approach; it is applied throughout the organization, including office operations, engineering, material planning and control, and the supply chain.
Implementing QRM requires a huge management mindset shift from cost-based to time-based decisions. Join the WOTM on Tuesday, August 13th at Cliffbreakers Riverside for practical examples from companies in the USA and Europe, including a facility tour of Hennig, Inc immediately following the workshop.