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Chapter 4: Q23-1OQ (page 646)

What is the name of the software Goldratt developed to implement his idea of TOC?

Short Answer

Expert verified

To put his plan into action, Person G created software called Optimized Production Technology (OPT) based on the theory of constraints. This software was created to handle various challenges relating to task scheduling and resource management in a business.

Step by step solution

01

Theory of constraints

The theory of constraints (ToC) is utilized in several industries, including operations management, supply chain management, project management, financial services, defense and government services, and many more. As a result, it is an important topic for managers and quality specialists to understand.

02

Names of the software

The basic premise is that a factory assembly line can only produce at its bottleneck rate. An assembly line's performance is monitored using three key performance indicators:

1. Throughput

2. Inventory

3. Operating Costs

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