Traditionally, companies have built up their inventory levels to: Accommodate for uncertainties in demand Take advantage of economies of scale Accommodate for unreliable suppliers Accommodate for quality issues Accommodate for production and scheduling errors. Yet, JIT and Lean Manufacturing philosophies state that inventory is considered waste and should be eliminated as much as possible. Compare and contrast these inventory methodologies and choose the methodology you feel is the most beneficial and why? Now play devils advocate and make a case for using the other inventory methodology. You own a small manufacturing company that produces gaskets for the automotive industry. You have traditionally purchased large rolls of rubber (about 40 inches wide) and slit them into 2 strips for use in your die cutting process. You have been approached by a company offering to slit the material for you. Given this information, discuss the following: Discuss why you would or why you would not want to have this company perform this task for you. Discuss the benefits and drawbacks from each course of action. Would the fact that the other company is from a foreign country affect your decision? What are the potential ethical issues related to transferring domestic labor to a foreign workforce (Offshoring).
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