Supply Chain Management Using the Thesis

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Standardization of the longest lead-time parts and those with the highest variable costs are essential for manufacturers to stay profitable. Standardization also needs to be dictated by the implications for suppliers of key parts and subassemblies. Standardizing on long lead-time items that also have little demand variability would be the best decision.

Based on your knowledge and/or experience of Total Cost of Ownership (TOC), discuss what you think are the two most critical components of TOC.

Total Cost of Ownership's most critical areas are the recurring costs over the lifetime of an asset and the services strategies to minimize these costs.

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The second most critical component is the planning prior to development or manufacture to ensure that maintenance for the asset or system is as high in terms of reliability as possible (Heilala, Montonen, Helin, 2007). It is also critical on this second point to engineer in a low time to repair (MTTR) and very low cost to repair using off-the-shelf parts to minimize supply chain fluctuations as well......

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