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Vol 27 - No 04 - May 2001 Cost Analysis for World Class Change: Part 3: Financial Models in Context This article reviews the models presented in parts 1 and 2 and contextualises their application... In part 1 of this series, Womack and Jones'[4 ] model is reviewed. Their model produces a one-time benefit to the accounts of businesses attempting to go lean. This one-time hit comes from using safety stock materials in production and in order to reduce the buffer size. Shown in part 2 of this series, a cost-of-conformance model by Hines ’et al [1 ] produced results. The improvement in profit derived from Hines’ model would provide a budget to sustain a continuous improvement programme... Page number: Page: 16 Word count: Words: approx. 2000 Related Topics: Analytical techniques Lean operations
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