Total Cost Minimization In a world that is dependent upon the quality and speed at which things are produced, innovation is constantly being chased in hope of finding better methods of doing so. With this, it must also be cost effective to keep both the producers and consumers in the equation. Total cost minimization is the goal of incurring the least possible cost and turning it into an inhibiting product. Henry Ford played this situation in a smart way and accomplished all what he wanted that was related to Total Cost Minimization and assembly line. This goal, however, is used for situations to restrict a decision. Total cost minimization relies more on quality than quantity. In order to minimize total cost, companies have historically …show more content…
So by the end of 1913, many workers quit their jobs and the rate of absentee was 10 percent. Workers did not like the job, so Ford thought of doubling the wages of assembly line workers, which eventually worked, and factory workers were making five times that of an average American. By 1919, assembly line helped Henry Ford become the first billionaire. And by 1928-1929, there were more ruthless workers and work in factories became much harder for workers, which led to cars coming out of the factories at a rate of one care every ten seconds. Other factories and companies got influenced by Henry's fantastic work, so in 1927, new created installment plans allowed a wide variety of things to get done in a faster way such as fridge, microwaves, etc. And bathrooms, light fixtures, houses, buildings, and many house appliances were being mass produced. When World War II began, there were no demanding consumers, and demand was so high in 1941. Detroit assembly line transformed factories for military services in order to focus more on building tanks, planes, trucks, and other heavy …show more content…
It is the solution to wasted time from workers, and Henry Ford made a magnificent move once he started assembly line and Total cost minimization. Without the assembly line, the world will still be constructing everything by hand. despite the fact that the sequential construction system's history is not long, the world can barely work without it now. From significant car producers to fast food chains to garments makers, our reality's most fundamental businesses utilize this procedure to expand their velocity and precision, significantly affecting the lives of about 7 billion people. It will keep on being an important resource for the assembling commercial ventures. The straightforwardness and consistency it produces has assisted makers with giving institutionalized items to their