Anybody can explain what is three bin estimates in manufacturing management.
what is a use of it
I am not familiar with three bin estimates? Do you mean three point estimates? the best-case estimate, the most likely estimate, the worst-case estimate.
I am familar with 3 point estimates. When presented with different cost scenarios, a good tool to use is the Three-Point Estimates, also known as PERT (Program Evaluation and Review Technique).
This technique deals specifically with the uncertainty that can hinder decision-making. To simplify the process, the project manager collects data for three scenarios: Optimistic (O), Most Likely (L), and Pessimistic (P). Details are explained in the link below:
https://onlinecampus.bu.edu/bbcswebdav/pid-904282-dt-content-rid-2557540_1/courses/13sum1metad644sol/lecture02a/metad644_L02T04d_threepointestimates.htm
Dear Manickam,
If you asking about 3 bin system, then it actually related to Kanban mechanism Just in Time (JIT) production system. 1st bin is where you put all the required materials for prodcution use, 2nd bin is in inventory control and the 3rd one in supplier site. Each of the bin will contains the information on the inventory level of the bin. As the 1st bin inventory drop below the minimum order qty, this info will be send out to inventory control department so they can replenished the material.Subsequently, the reduced material in inventory will trigger supplier to send in the required material accordingly. In this manner, the pull system was achieved which is the fundamental for JIT deployment because the inventory will be supplied at the correct qty and accurate time. See this link : http://www.brighthubpm.com/monitoring-projects/70336-kanban-explained-as-applied-to-jit/
Dear Abd Rashid.
thanks for your explanation
u have any ppt for this topic
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