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
disadvantages of transfer pricing

Question:   (a) For a business annual sales are Rs 50,000 and variable expenses are Rs 35,000 and fixed expenses are Rs 25,000. The owner wants to earn at least Rs 5,000 as pro

case study on payroll system

Question 1: (a) Discuss the main features and problems which Mauritius has to face as a small island developing country. (b) What are the factors which have led to the f

When to order-Material control If deliveries from suppliers normally take two weeks to arrive, then replenishment orders should be placed with them when the level of stocks rep

Barker Company has a single product called a Zet. The company normally produces and sells 80,000 Zets each year at a selling price of $40 per unit. The company’s unit costs at this

Given the persistent problem with starvation in some parts of the world, and the anticipated population growth in developing nations, do we need genetically modified foods? Is it r

By electronic fund transfer the collection float can be completely removed the other benefit of electronic fund transfer is instant updating of accounts and reporting of balances a

1) FUTURE CASH FLOWS: Prepare a three (3) year forecast of estimated future cash flows for starbucks and give valid economic/business reasons for your projections. This means you w

The following information pertains to Fairways Driving Range, Inc.: The company is considering operating a new driving range facility in Sanford, FL. In order to do so, they will