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Innovation and Technology - Essay Example

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This essay discusses that science, Technology, and Innovation is essential for our economy and social progress. In today’s era which is totally technology-oriented, high levels of investments in research and innovations are vital, both for economic competitiveness and to yield the new ideas…
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Innovation and Technology
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"Innovation and Technology"

Download file to see previous pages Scientific knowledge and expertise, innovations, creative ideas advanced technology industrial infrastructure and skilled work-force are surely the precious assets of this new era. This paper is also a research on the organizations that give immense importance to technology and innovation. Moreover, I will also discuss its positive and negative results. Just in Time System Just in Time (JIT) system is an easy concept to grasp for anyone. It actually means making only what is needed, when it is needed and the exact quantity that is required (Cooper & Edgett, 2009). For example, if an automobile organization gets a huge order for making automobiles which would consist of nearly 30,000 parts, it is necessary that a proper production plan Is created that would consist parts procurement as well. Now, if the JIT system is implemented in the production plan it can eliminate waste, inconsistencies, unnecessary requirements and eventually this would surely increase the efficiency in productivity. According to a research it was found that Toyota Production System implements a unique production control method that plays a vital role in producing efficient results for them. This method is called a Kanban System. It is also known as the supermarket method because the idea of the kanban system was initially borrowed by the supermarkets. Such mass merchandising stores use product control cards which have got all the relevant information about the product such as product ID, product’s name and the place where it is located (Farrell & Saloner, 1992). Similarly, Toyota also implemented the same process. They also made the product control cards to use in their production processes and since these cards had the sign of Kanban, this is the reason why it is named as Kanban System. Therefore at Toyota, the processes in which the parts are retrieved, it uses a kanban to communicate to know that which parts have been utilized. Now, after doing a detailed research on the Toyota Production System, one thing that caught my mind was to know the reason that why such a multinational Organization is implementing a supermarket method for its production processes. This is something very strange but at the same time, it is quite interesting as well. The reason behind using a supermarket concept was that the supermarket stocks the items that are required by its customers when they are needed in the quantity needed, and has all these items available for sale at any time. It was Taiichi Ohno (former vice president of Toyota) who was the first person to promote the concept of Just in Time System at this level. He applied this concept by equating the supermarket and the customer with the previous process and the next process. By having this record it was easy to judge that the customer will go to the supermarket to purchase the required items when they are needed and in the quantity needed. This also made possible to improve the quality of the existing inappropriate production system. Furthermore, it was also found that the supermarket was not making excess parts and delivering them to the customer resulting in an efficient production system. Below is the conceptual diagram of the kanban system which describes all of its steps and which would be easy to understand.  ...Download file to see next pagesRead More
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