IB Business Management Topic 5.3.1 Features of Lean Production Revision Notes (HL)

IB Business Management Topic 5.3.1 Features of Lean Production Revision Notes (HL) | RevisionDojo

Written by official IB examiners

Reducing Waste and Maximizing Efficiency

Consider running a bakery:
1. You throw away unsold bread at the end of each day.
2. Machines keep breaking down, forcing workers to stand idle.
These are classic signs of waste, resources being used without adding value to the customer.
Now picture the same bakery where every loaf is sold, equipment runs smoothly, and processes are streamlined.

This are symptoms of a business who's successfully implemented features of lean production.

What Is Waste in Business?

Definition

Waste

Any unused materials, time, or resources that do not add value to the final product or service.

Waste increases costs and reduces productivity.
It can take many forms, such as:
1. Unused Materials: Raw materials that are discarded or overused.
2. Idle Time: Employees or machines waiting for tasks.
3. Defects: Products that need rework or are discarded.
4. Overproduction: Making more than what is needed, leading to excess inventory.

Example

A factory that reduces defective products saves on materials and labor costs.

Benefits of Reducing Waste

Nice try, unfortunately this paywall isn't as easy to bypass as you think. Want to help devleop the site? Join the team at https://revisiondojo.com/join-us. exercitation voluptate cillum ullamco excepteur sint officia do tempor Lorem irure minim Lorem elit id voluptate reprehenderit voluptate laboris in nostrud qui non Lorem nostrud laborum culpa sit occaecat reprehenderit

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit.

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unlock the rest of this chapter with a free account

Reducing Waste and Maximizing Efficiency

Consider running a bakery:
1. You throw away unsold bread at the end of each day.
2. Machines keep breaking down, forcing workers to stand idle.
These are classic signs of waste, resources being used without adding value to the customer.
Now picture the same bakery where every loaf is sold, equipment runs smoothly, and processes are streamlined.

This are symptoms of a business who's successfully implemented features of lean production.

What Is Waste in Business?

Definition

Waste

Any unused materials, time, or resources that do not add value to the final product or service.

Waste increases costs and reduces productivity.
It can take many forms, such as:
1. Unused Materials: Raw materials that are discarded or overused.
2. Idle Time: Employees or machines waiting for tasks.
3. Defects: Products that need rework or are discarded.
4. Overproduction: Making more than what is needed, leading to excess inventory.

Example

A factory that reduces defective products saves on materials and labor costs.

Benefits of Reducing Waste

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management 5.3.1 Features of Lean Production Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

Reducing Waste and Maximizing Efficiency

What Is Waste in Business?

Benefits of Reducing Waste

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Reducing Waste and Maximizing Efficiency

What Is Waste in Business?

Benefits of Reducing Waste

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account