In what ways does using Bought-in components reduce companies costs
Can be bought in bulk reduces unit costs
Companies don't have to set up their own manufacturing facility
Greater level of consistency
Time saved
What does RFID stand for
Radio Frequency Identification
What are AGVs
Auntomated Guided Vehicles which are there to move materials or parts across longer distances
What is the difference between the jobs of a robotic arm and an AGV
They do the same thing but when longer distances are involved the robotic arm is replaced with a AGV
What are Flexible Manufacturing Systems (FMS)
They make extensive use of modular/cell production as well as other systems that facilitate easy transfer of production from one part or product being made to another
What is the benefit of using FMS
Makes it possible to respond quickly to changes in market demand, so factories can switch production
What do single minute exchange dies (SMED) do
Change dies in a press or moulding machine very quickly in response to demand for a different part
What is the financial advantage of SMED(single minute exchange dies)
Since keeping expensive machinery like press or moulding machines in operation for the maximum amount of time possible increases manufacturing facility efficientcy