Toc for smart production- excerpts of invited lecture delivered at the colloquim of production engineers, 26th indian engineering congress-2011, bangalore, india
The document gives an overview of Theory of Constraints, TOC and describes its application to the Production System. Focusing mechanism being the basis of TOC, the document emphasises, how it makes a Production System more responsive to the rapidly changing business conditions. It also highlights TOC as a management technique, that allows the organization to dramatically improve its performance and deliver astounding results quickly, without taking too much of risk and without exhausting crucial resources.
The document also summarizes status of TOC implementation in India. As, India and other Emerging Economies struggle with unpredictable macro-economic conditions, managing the TOC way, is proposed as a strong antidote, in realizing their dreams of reaching up to the prosperity of developed nations.
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Toc for smart production- excerpts of invited lecture delivered at the colloquim of production engineers, 26th indian engineering congress-2011, bangalore, india