total cost minimization - Essay Example

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total cost minimization

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. ...Show more

Summary

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…
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