Plant Oxford Production Process: JIT Assessment & Improvements

This report provides a detailed analysis of the production processes at Plant Oxford, focusing on inventory management, lean production principles, and the suitability of Just-In-Time (JIT) manufacturing. It examines the costs associated with holding large amounts of stock, including various stock types held at Plant Oxford, and elucidates the core components of lean production. The report assesses the existing production process at Plant Oxford, evaluates the appropriateness of JIT implementation, and recommends specific improvements to enhance efficiency and reduce waste. Key recommendations include ensuring product consistency, improving process efficiency, optimizing resource utilization, and effectively resolving production issues. The analysis aims to provide actionable insights for optimizing Plant Oxford's production operations, with a focus on continuous improvement and waste reduction. Desklib provides a platform to explore similar assignments and study resources.

Operation

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Explain the costs to a firm of holding large amounts of stock you should include the
different types of stock that may be held at Plant Oxford...........................................................1
2. Explain the main components of lean production...................................................................2
3. Examine the production process at Plant Oxford....................................................................3
4. Give an assessment of whether if Just-In-Time is appropriate for the production on Minis at
Plant Oxford fully explain your reasoning .................................................................................4
5. Using the answers to the previous questions and any other information that you may have
gathered recommend and justify improvements to the production process at Plant Oxford .....4
CONCLUSION................................................................................................................................5
REFERENCES ...............................................................................................................................6

INTRODUCTION
The report prepared as under takes into account the functions being performed by a
enterprise over a period of time. It explains the ways in which business can carry out its
functioning and operational activities too. It would help in understanding the usefulness of
assessment being carried out and how the business can be examined keeping future course of
action as well(Wenning, Kawollek and Kampker, 2020). It would be helpful to examine the
growth and expansion of business over a period of time and help the sponsors and investors to
understand whether to invest in a certain company or not.
MAIN BODY
1. Explain the costs to a firm of holding large amounts of stock you should include the different
types of stock that may be held at Plant Oxford
To handle the inventory with success, company require to identify the equality between
the expenses and advantages of holding the inventory. The expenses of holding the inventory
involve the money which are spent to purchasing the inventory along with the maintenance and
insurance. There are some consequences faced by the company while holding the large value of
stock:
 Large amount of inventory is similar to the more expenditures. It also support to reduce
in the cash flow of the business and occur more storage expenses.
 Holding the wrong inventory define less income in a form of less sales revenue and show
bad service to the customer(Dequeant and et.al., 2021).Explain the main components of
lean production
Types of Stock Cost:
 Ordering cost: This type of cost include labour expenditures, payroll taxes and the wages
of procurement division etc. This cost is mainly involves in overhead expense and find to
the producing units in each duration.
◦ Transportation expenses
◦ Acquiring expenses.
 Stock Holding cost: It is easier the quantity of rent a company spends for the keeping
field where they hold the stock.
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◦ Storage space expenses
◦ Stock risk expenses
Stock held by Plant Oxford. Explain the main components of lean production
 Common stock: It also called as ordinary shares it shows half ownership in the firm. It
helps the investor to create incomes, which is usually paid in dividends.
 Growth stocks: This type of stock shows equities estimated to develop at a fast rate it is
related to the big market. In general, this type of inventory tend to perform high during
the time period of economic expansion and rate of interest is less.
 Value stocks: This kind of inventory mainly trade at a discount and indicates what a
firm's performance. It also express the highly attractive valuations then the big market.
 Income stocks: It provide daily income by sharing a firm's profits, or high cash with the
help of dividends that are more than the normal market(Fu and et.al., 2022).
2. Explain the main components of lean production
Lean production or manufacturing defines that what type of concept are adopted by the
business to achieve the goal through reducing the time and natural resources are used in the
activity of manufacturing products and doing other management practices, with discarding all
types of unwanted things or wastages. In other words, it is the mixture of several management
groups or philosophies designed where it tries to make the business operation in a efficient way.
These practice include five principles or component which are as follows:
 Defining value: It is the first and foremost principle of lean production where they
analyses the behaviour and demands of the customer because customer is the key
component of every organization or firm to run the business or to increase the
profitability. Due to organization uses several techniques to analyse its product value on
the costumer point of view by taking survey, interviews, etc. After conducting this
business is helpful in taking the primary data along with quantitative and qualitative
terms.
 Map the value stream: The next principle is observed and mapped the value of customer
in stream time. This step helps the business organization to process the manufacturing
activity according to the customer wants. Due to this, the wastages are also declined.
 Create flow: The third step or principle ensure that the flow of work should be done in a
proper way without any delay.
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 Establish Pull: Fourth principle of lean production helps to minimize the inventory and
WIP items. In simple words, it helps in delivering the goods or service on timely basis by
maintaining the quality of the products according to customer needs.
 Pursue Perfection: It is a last and most vital principle of lean production which analyse
the whole process of production and the product perfection.
3. Examine the production process at Plant Oxford
There some procedure of production which are mainly used to perform the manufacturing
of car in Plant Oxford company which describes as below:
 Raw materials: In this process the basic requirement of the company is raw material to
prepare the car from a thought to a reality(Glussi, Hsiung and Brieva, 2019). Most of the
car production are looking for high achievable, along with the light-weight and cost-
efficient material for its cars to maintain the demand.
 Design and engineering: Before starting the manufacturing process, the design of the car
is important to fulfil the public requirement and wants for a car. After constructing the
structural design of car, it will go many times to revise and perfect it. After the
completion of whole process means designing and the work of engineer is done then the
process of manufacturing can be start.
 Manufacturing: After the completion of designing and engineering process company start
the manufacturing process but before implementing the drafted structure of car. Once the
frame is made and the tools are ready to implement the car will be loaded to the
manufacturing line. It is very important to start the manufacturing process.
 Testing: once the manufacturing process is completed then its important for the firm to
send it for the testing process. Because it is very important before launching the car.\
 Launch: After the testing process is done, then the car is ready to launch in the market
with some new and innovative technology.
4. Give an assessment of whether if Just-In-Time is appropriate for the production on Minis at
Plant Oxford fully explain your reasoning .
This just-in-time production technique is a manufacturing related strategic remove of
waste and continuous betterment of efficiency. It check the successful organizing of all
production tasks need to manufacture a final good, from pattern engineering to supply and
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involving all states of transition from raw material(Sandberg, 2018). The main principles of just-
in -time are to have only the needed stock when required to better quality with no issues, to
decline support time by declining establishing times. It is a production method with main aim to
optimize the whole functions and process by continuously following waste deduction.
Certain changes need to be incur in factory before realizing the advantages and the variations
are:
 Stabilize the manufacturing agenda
 Maximize the manufacturing capability of production work areas
 Improve the quality of good
 Grow long-term relations to supplier to eliminate disruptions in material movements.
Advantage of Just in Time production:
 Stages of stock are forceful declined.
 Establish times are importantly declined in the factory.
 Improvement in goods quality.
 Encourage teamwork among staff members
 cost of scrap is declined.
5. Using the answers to the previous questions and any other information that you may have
gathered recommend and justify improvements to the production process at Plant Oxford
Plant Oxford company show improvement in production process for providing new and
innovative service to the customer within the time. There are some need of improvement which
are discussed below:
 Show consistency in product: It is required for the company to show all goods that
create it off the production line are completely operational. Along with the
abilities of each and every portion necessary to match the requirement of end-
users.
 Efficiency of the process: The regular improvement equipments in place,
manufacturers cans supply goods to the consumer very speedily. The process of
quality betterment reduce the problems that can support to time consuming late in
the supply of the manufactured parts.
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 High utilization of resources: It is very important of the firm to utilize the whole
resources without any wastage of resources. Because it will help to reduce the
cost of the company.
 Solve the issues fully: If any problem arise in the firm while performing the task
then it important for the company to reduce the issue firstly and eliminate the
problem completely from the business.
CONCLUSION
The report prepared above helps to assert and conclude in what ways business has
planned its certain activities and functions well in advance keeping future course of action in
mind. It helps to have a better understandings of the work being performed. The report would
further be helpful in having a idea where the company is lacking and lagging behind and what
preventive measures would help it to cover those gaps prevailing in the business for a period of
time. It is further advised to understand where the organisation can manage its operation and
managing competition in environment as well.
.
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REFERENCES
Books and Journals
Wenning, M., Kawollek, S. and Kampker, A., 2020. Automated driving for car manufacturers’
vehicle logistics. At-Automatisierungstechnik. 68(3). pp.222-227.
Dequeant, M.L and et.al., 2021. CD70 knockout: a novel approach to augment CAR-T cell
function.
Fu, S and et.al., 2022. Optimal Design of the Frame of Baja Racing Car for College Students.
In Proceedings of China SAE Congress 2020: Selected Papers (pp. 293-310). Springer,
Singapore.
Glussi, R.C., Hsiung, D. and Brieva, T., 2019. Development of media production processes for
CAR-T therapies.
Sandberg, S.M., 2018. Digitizing the Pullman-Standard Railroad Car Manufacturing Company
Employee Personnel Records, Michigan City, IN Plant.
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