Answer the following questions in approx 150 words.
What are the characteristics of a lean supply chain? Choose one of the major supply chain functions (production, warehousing, logistics, customers) and describe how a lean version of that function differs from a traditional model.
Discuss the Fixed Order Quantity and Fixed Time Period inventory models. Which of these have you seen in operations? Which one is preferable? Why?
Define The Scheduling Process , and discuss an circumstance where you have observed the principle in action
What is the general principle of Goldratt's Theory of Constraints. Discuss a way that you have seen the principle in action or an application where the principle would be useful.