[Inventory is measured by] the money the system invests in purchasing things the system intends to sell. - Eliyahu M. Goldratt

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[Inventory is measured by] the money the system invests in purchasing things the system intends to sell.

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About Eliyahu M. Goldratt

Eliyahu Moshe Goldratt (March 31, 1947 – June 11, 2011) was an Israeli physicist who became a business management guru

Biography information from Wikiquote

Also Known As

Native Name: אליהו גולדרט
Alternative Names: Eliyahu Goldratt Eliyahu Moshe Goldratt

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Additional quotes by Eliyahu M. Goldratt

Well, since we started keeping data on the bottlenecks, I’ve been noticing I’m able to predict several weeks in advance what each bottleneck will be working on at a particular time. See, as long as I know exactly what’s in queue, I just take the average setup and process times for each type of part, and I’m able to calculate when each batch should clear the bottleneck. Because we’re only dealing with one work center, with much less dependency, we can average the statistical fluctuations and get a better degree of accuracy.

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When a proto-type — a new initiative — doesn't work, we face two alternatives: one is to bitch about reality and the other is to harvest the gift it just gave us, the knowledge of what has to be corrected.

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