Wednesday, October 13, 2010
In my last blog I looked at different revolutions that have impacted the manufacturing industry in the past, and what the payments industry can learn from them, specifically the use of interchangeable parts and mass production. In this piece I want to look at two more manufacturing trends, starting with Just-In-Time (JIT) manufacturing.
Wednesday, October 06, 2010
Throughout its life, the manufacturing industry has gone through many changes that have each revolutionized the way products are made. Consider the principle of using uniform and interchangeable parts, rather than every element being unique. By being able to easily replace and reuse parts, manufacturers could make their processes more efficient, with less waste and faster time to market. And then Henry Ford’s advocacy and widespread use of the assembly line made mass production a reality; slashed the time needed to make a Model T Ford; and significantly cut the cost to the customer.