Modern Techniques of Scientific Management

1. Just-in-Time Manufacturing:

Just-in-time manufacturing is a strategy of inventory management. This is concerned with minimizing the stock of work in progress and the costs associated with these stocks. By reducing the work in progress the enterprise can improve its return on investment.

2. Lean Manufacturing:

Lean manufacturing is a philosophy of management that is related to reducing the seven wastes, i.e., wastes of overproduction, waiting for time, transportation, processing, motion, inventory, and a scrap of any type. These seven wastes can incur losses to an enterprise in various ways, such as wasting raw materials, manpower, electricity, transportation cost, etc. Reducing these wastes result in improvement of quality and contraction in production costs and time, which enhances the company’s performance and increases its profit.

3. Kaizen:

Kaizen is a Japanese term that means ‘improvement’ or ‘change for the  better’. It is a concept that refers to improvement in productivity. Kaizen main purpose is to cut out waste, standardize work, timely delivery, suitable and right size equipment, a better supply chain. etc.

It is a continuous activity which takes place routinely and helps in eliminating both mental and physical hard work and creates harmony in the organization or workplace. It instructs people on how to perform speedy experiments by encouraging them to use scientific methods in order to eliminate waste in all kinds of business organizations.  

4. Six Sigma:

Six Sigma is a data-driven approach that helps an organization in reducing inefficiencies and in saving time and money by reducing ‘quality variations’. It provides enterprises with tools to enhance the capability of their business processes. This increases the performance of the organization and decreases the process variation. This helps to improve performance and increases the profits of an organization. 

Scientific management means the use of scientific methods to solve the problems of management. It is the art of knowing exactly what you want your employees to do and seeing that they do it in the best and cheapest ways. It involves the study of each activity in detail and doing the work in such a manner so that work can be completed effectively and efficiently. F.W. Taylor laid the foundation of management as a science consisting of fundamental principles.