x, 369 pages : 24 cm "From the award-winning developers of Factory Physics--a leadership guide for breakthrough productivityIn the past, executive management of operations has typically involved a hodgepodge of copycat initiatives, mathematics, and software--and hoping for the best.Factory Physics for Managers provides a fundamental science in a practical framework that will immediately improve executives' and managers' intuition, provide a clearer view of their company and its operations, and enable them to lead their organizations much more effectively. The book explains the relationships between capacity, inventory, response time, and variability--and then shows how managers can use those relationships to design and execute strategic business plans.Jeffrey H. Bell is a managing partner of Arc Precision, a supplier of precision engineered components to the medical device industry, and he serves on the advisory board for Factory Physics Inc. Edward S. Pound is Chief Operations Officer at Factory Physics Inc. Mark L. Spearman is the founder, president, and CEO of Factory Physics Inc. and coauthor of Factory Physics"-- Includes index Includes bibliographical references and index Machine generated contents note: The Book in Brief -- Why Is This Book Needed? -- ch. 1 Science---Use It or Lose -- Of Theories and Buzzwords -- Toyota and Science -- How Toyota Did It -- Batch and Queue Production -- A Balanced Approach -- The Track Record: Lean and Six Sigma -- A Confused Landscape -- Boeing's Moving Assembly Line -- Looking Ahead -- ch. 2 The Nature of Business---A Secret Hidden in Plain Sight -- Leading Performance Improvement More Productively -- Tradeoff Illustrations -- Leadership and Tradeoffs -- The Factory Physics Approach -- ch. 3 Practical Science for Leaders -- Knowledge and Science -- Science, Math, Software, and Intuition -- Practical Theory -- The Value Stream: Demand, Stocks, and Production -- Buffers -- Types of Buffers -- Conceptual Illustrations: Something or Someone Is Always Waiting -- A Manager's World: Environment, Tactics, Controls, and Measures -- Putting Practical Science to Practice -- Definitions Contents note continued: Factory Physics Science: As Simple as Possible but No Simpler -- Advancing the Practical Science of Management -- The VUT Equation -- Cycle Time versus Utilization Graph -- Production and Stocks -- Little's Law -- Production-Flow Graph -- Variance of Replenishment-Time Demand Equation -- Tradeoff Plot: Inventory versus Fill Rate Graph -- Efficient Frontiers -- Insights from the Tradeoff Plot -- Visual Management of Stock-Point Performance -- Stocks and Flows, the Lot-Size Graph -- ch. 4 Practical Math for Managers -- Defining Terms -- Modeling Stocks -- A Perfect World -- Replenishment Times -- Demand -- Forecast Error and Lead Time -- Inventory Performance Measures -- Computing Inventory Policies -- Inventory in an Assembly System -- Modeling Flows -- Little's Law -- Capacity Analysis -- Overall Equipment Effectiveness -- Best-Case Performance -- Effect of Variability -- Measures of Variability -- Queuing Effects -- Total Cycle Time Contents note continued: Raw Process Time -- Move Time -- Shift-Differential Time -- Batch Time -- Pull Systems -- Combining Stocks and Flows -- Cash-Flow Optimization -- Examples of Cash-Flow Optimization -- Conclusions -- ch. 5 Profit, Cash Flow, and Factory Physics Science -- The Value-Added Fantasy -- Financial Statements and the Science of Operations -- Financial Performance Driven by the Science of Operations -- Contribution Margin at the Bottleneck -- When Lean Manufacturing Adds Cost -- Inventory Optimization -- Managing the Portfolio of Buffers -- Marketing and Operations Strategies Drive Financial Results -- ch. 6 Operations Strategy and Planning -- Operations Strategy -- Strategy -- Tactics -- Controls -- Measures -- Execution -- Information Technology Control and Control Limits -- Factory Physics Sales and Operations Planning -- S & OP Event Sequence and Participants -- S & OP Meeting Practices -- S & OP+ -- S & OP+ Process Contents note continued: ch. 7 Implementing Tactics, Controls, and Measures for Optimal Results -- Demand Tactics and Controls -- Describing and Forecasting Demand -- Lumpy Demand -- Inventory Tactics -- Inventory Strategy Considerations -- Capacity Considerations -- Current Performance versus Predicted Performance -- Strategic Options -- Tactics for Inventory Management -- Inventory Control -- Capacity Tactics -- Utilization -- WIP Control and CONWIP -- Virtual Queues and Due-Date Quoting -- Rework and Scrap -- Response-Time Stratagems -- Predictive Control Using MRP/ERP Systems -- Common Practices -- MRP for Inventory Control -- MRP for Production Control -- Dynamic Risk-Based Scheduling -- Dynamic Risk-Based Scheduling in Assemble-to-Order Environments -- Measures Alignment and Insight -- ch. 8 Leadership, Measures, and Culture Change -- An Approach to Sustainable Leadership -- A High-Level Plan So That Strategies Can Be Shared and Understood -- Vision and Mission Contents note continued: Critical Strategies -- Monthly or Quarterly Plans to Establish Prioritized Initiatives -- Inventory Optimization -- Utilization Targets -- Weekly Scheduling Meetings to Plan the Work -- WIP Caps -- Due-Date Quoting -- Weekly Operations Meetings to Check Progress -- Daily Mechanisms for Feedback -- Personal Plans So That Individuals Understand Their Roles -- ch. 9 Examples from Industry -- Learning to See---Farther -- Beyond ABC---Optimal Inventory Policies -- Reducing Cycle Times in a Traditional Pharmaceutical Plant -- Restoring Customer Service in a Fabrication and Assembly Plant -- Increasing Throughput in a Biopharmaceutical Facility -- Dynamic Risk-Based Scheduling in the Textile Industry -- ch. 10 Final Word on Factory Physics Science (for Now) -- Quick Wins -- Operations Strategy Alignment with Business Strategy -- Absolute Benchmarking -- High-Level Assessment of Utilization -- Bottleneck Analysis -- Potential for WIP Cap Deployment Contents note continued: High-Level Analysis of Lead Times -- ERP/MRP Mechanics -- More Complex Implementations -- A Large Company Implementation -- Alternative Histories -- The Future