ABSTRACT
Work sampling is an analytical method to determine the details about the utilization of humans or machines through numerous observations taken at a random interval of time. One of the key findings from the procurement assessment was the lack of differentiated purchasing strategy based on business impact and supply-chain risk. One of the key elements of the Planning Model’s effectiveness is the synchronization of the demand with production, which is often reflected in the amount of Finished-Goods inventory retained. Inventory is classified as an asset, but it can often be thought of as of a liability, as it’s susceptible to obsolescence and also at risk of damage. The manufacturing assessment uncovered that there was excessive inspection throughout the manufacturing areas. Another assessment activity was to conduct a simple benchmarking versus similar companies in similar industries. The combination of finished-goods inventory-management and the manufacturing run strategy will impact the demand-production-inventory synchronization, which is graphically displayed by the Triple-Play charts.
