total cost minimization Essay example
College
Essay
Engineering and Construction
Pages 4 (1004 words)
Download 0
Name: Instructor: Course: Date: Total Cost Minimization The manufacturing sector is undergoing a technological revolution that is seeing it shed millions of employment opportunities to factor in highly automated and reengineered environments. Transnational corporations, for instance, are entering an era of lean production practices, fast communications, and short-time distribution and marketing operations that rely on a generation of robotic workers…

Introduction

The new communication and information technologies today have made it possible to attain sophisticated and continuous process manufacturing. The automotive industry, for instance, has seen dramatic breakthroughs in technology displacement and reengineering. They now make over fifty million new automotives every year and are responsible for the creation of one out of every twelve jobs in the North American manufacturing industry. Experts predict that Japanese owned factories, by the end of this decade, would have the ability to make an automobile in eight hours or less (Dikbas and Scherer 297). This shorter time of production will result in fewer workers being needed for the production line. Japan’s nine automakers make over twelve million vehicles each year using less than six hundred thousand workers. Automakers in Detroit employ over two and a half million workers in the production of the same number of cars. US automakers, following Japan’s lead, have started to reengineer their operations in the hope that they can increase their productivity, improve product share, reduce labor rolls, and increase their profit margin. ...
Download paper
Not exactly what you need?

Related papers

Development Appraisal, Project Cost Control
The building and construction sector includes contractors who build buildings for residential, industrial and commercial purposes. SECTION-A Question 1 This is a case whereby companies operating in the construction industry need to develop, differentiate, defend and communicate the development contribution they make to their host country  in just the same way as they manage the value they…
Construction Cost Control & Management
In our case, the formula is; (a + 4 m + p) / 6 (NetMBA, 2012). Where, O = Optimistic Time. M = most likely time. N = pessimistic time. Activity a days m days b days Expected Days a 4 m p (a + 4 m + p) / 6 AB 4 5 6 (4 + (4 *5) + 6) / 6 = 5 BC 2 5 8 (2 + (4 *5) + 8) / 6 = 5 CD 5 7 9 (5 + (4 *7) + 9) / 6 = 7 CE 4 5 6 (4 + (4 *5) + 6) / 6 = 5 DF 2 4 6 (2 + (4 *4) + 6) / 6 = 4 FG 3 5 9 (3 + (4 *5) + 9)…
Cost Effectiveness Evaluation of Villa at Royal Commission in Jubail
2000 p. 15). Measures of effectiveness are also in relations with the achieved results of the designed project. This success factor is represented by the budget, time, quality, client satisfaction, user satisfaction, operational assurance, and learning and exploitation. According to the Roshana Takim’s Analysis of Effectiveness Measures of Construction Project Success in Malaysia, effectiveness…
Pre-Contract Cost Planning and Cost Controlling
Cost planning not only enables capital cost budgets to be set but also provides a structure to accommodate as well as manage transformations to the client’s brief and design (Murdoch & Hughes, 2007, p.80). An effective Cost plan enables a client together with the design team to understand where and how finances have been allocated towards the completion of a project. On the other hand, Cost…
Total Cost Minimization
This paper explores the difference between the past and the present automobile engineering world, giving examples of Toyota and Ford. Specifically, the paper discusses the past and present economic issues, the growth and development of the manufacturers, and the changes in production speed by the manufacturers. The Past and Current State of the Industry The automobile industry has been in…
Total cost minimization
These activities relate to different fields of engineering including Textile Engineering, Chemical Engineering, and Agricultural Engineering. One field of engineering that has been very dominating in all ages is the Civil Engineering. There have been unique ways and standards of construction throughout the history. Examples include carved caves to make space for living made by a nation who…
Total Cost Minimization
Internal investigations are done to resolve challenges or avoid moral hazards. This has helped Ford company avoid substantial legal and financial costs. A poorly done internal investigation could lead to negative effects such as negative publicity, distraction of employees from their work, a leeway to moral hazards among employees and negative impact on employee morale. These negative effects will…