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Part 1 Introduction
Theory of Constraints is a concept that is used to manage the business operations within an organization. It is a management philosophy that is incorporated to accomplish the goals and objectives of the company. The theory helps to identify the exact mission of the organization, the factors that restrict the achievement of the goals and then find effective solutions to mitigate these constraints (Goldratt, 2017). These limiting factors or the constraints are known as bottlenecks. When one constraint is saved, there is a chance of another constraint. The organization then must concentrate on the new constraint. This is how the process repeats continuously. As per the rules of the theory of the constraint, an organization can attain its objectives by reducing the inventory and operating expense. The three core principles of theory of constraint are convergence, consistency and respect (Mabin, 2015) The convergence principle denotes that it is possible to make a complex system simpler because a correction implemented in one in one aspect of the system will have a positive impact on the whole system. According to the consistency principle, the internal disagreements are a result of one flawed assumption. The respect principle implies that every human being must be respected even though they have committed some mistakes.
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