Jit purchasing-jit aims, Managerial Accounting

JIT purchasing

On the other hand is a purchasing system in which material purchased are contracted so as that the receipt and usage of materials to the maximum extent possible, coincide.

JIT concept can be traced back to the Japanese company whose success in the international market generates interest among many western companies as to how this success was achieved.

The implementation of JIT production methods was considered to be pursuit of excellence in all phase of manufacturing systems design and operations.

The JIT are to produce the required items at the required quality and in the required quantities, at the precise time that they are required.

JIT seeks to achieve the following aims:

(1). Removal of non-value adding activities.
(2). Zero inventory
(3). Zero defects
(4). Batch magnitude of one.
(5). Zero break-downs
(6). 100% on time delivery services.

The above goals represent perfection and are most unlikely to be archived in practice. They do though offer targets and generate a climate for continuous progress and excellence.

Posted Date: 12/6/2012 7:02:52 AM | Location : United States







Related Discussions:- Jit purchasing-jit aims, Assignment Help, Ask Question on Jit purchasing-jit aims, Get Answer, Expert's Help, Jit purchasing-jit aims Discussions

Write discussion on Jit purchasing-jit aims
Your posts are moderated
Related Questions
Anderson Nuclear Power Plant will be "mothballed" at the end of its useful life (approximately 20 years) at great expense. The expense recognition principle requires that expenses

1 Describe the impact of different types of standards on motivations, and specifically, the likely effect on motivation of adopting the labor standard recommended for Geeta & Compa

I need help with a solution in the Cornerstones of Financial and Managerial Accounting textbook, Chapter 11, problem 11-51B on page 578. I need to create a statement of cash flows

M/s Sunrise Industries estimates its net cash requirement at Rs. 20 million for the subsequent year. Opportunity cost fund is 15 percent per annum of the Companies. The company wil

we want to realize our job dreams, we need to think about ourselves as products to be marketed, and in order to do this, we need to contextualize ourselves within the five Ps of ma

Identification of decision packages - Zero base budgeting Each manager should break down his decision unit into smaller decision packages. Top manager may lay down the minimum

Difficulties in cost reduction 1) Resistance by employees to pressure to reduce cost usually because the nature and purpose of the campaign has not been properly explained to t

Exercises 2-1, 2-2, 2-3, 2-4 Problem 2-14 I didn’t write every question down out of the book just questions 2-1, and 2-2. Exercise 2-1 classifying manufacturing cost. Your boat,


If a company creates sales to a number of customers on credit terms this will have to wait for two or still three months before its debtors pay that they owe. It means that the deb