Working Capital Management and World Class Manufacturing
1. The Nature of WCM
The nature of World Class Manufacturing (WCM) is defined by its pursuit of perfection. It is not just a set of tools but a culture of "zero-based" thinking.
- Philosophical Core: WCM is rooted in the "Zero Goals"—aiming for zero waste, zero defects, zero accidents, zero breakdowns, and zero inventory.
- Integrated Framework: It combines elements from Lean Manufacturing, Total Quality Management (TQM), Total Productive Maintenance (TPM), and Just-in-Time (JIT) into a single, cohesive system.
- The Pillar Structure: WCM is typically organized into 10 Technical Pillars (such as Safety, Quality Control, and Autonomous Maintenance) and 10 Managerial Pillars (such as Management Commitment and Clarity of Objectives). This ensures that
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