Explain about the just in time philosophy, Operation Management

Assignment Help:

Explain about the just in time philosophy.

Just in time (JIT):

This philosophy requires which products must only be produced when there is an internal/external customer waiting for them. This aims ideally for zero stock for example as raw materials delivered instantly at the time they are required, no build up of work-within-progress in production and finished goods merely produced when there is a customer waiting for them. It implies cash is not tied up unnecessarily within raw material, work-in-progress or finished goods stock, permitting more effective cash flow management for the organisation. Just in time is an illustration of a chase demand strategy for balancing capacity or supply and demand.


Related Discussions:- Explain about the just in time philosophy

Explain draw a graph illustrating the crossover point, Stan's company is co...

Stan's company is considering producing a gear assembly that it now purchases from Sal Company. Salt company charges 4 per unit with a minimum order of 3000 units. Stan estimates t

Explain role in establishing a canadidate''s brand, How does the use of mus...

How does the use of music in political play a role in establishing a canadidate's brand?

Explain marketing is considered both an art and a science, Marketing is con...

Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science? a. Marketing is about advertising.

Dipict the network diagram, Four parts (A, B, C, and D) are processed throu...

Four parts (A, B, C, and D) are processed through a sequence offour operations (1, 2, 3, and 4). Not all parts are processed inall operations. Part A, which has weekly quantities o

Explain major priorities associated with operations strategy, What are the ...

What are the major priorities associated with operations strategy? How has their relationship to each other changed over the years?

Calculate the expected value, C and S Metal company produces stainless stee...

C and S Metal company produces stainless steel pots and pans. C and S can pursue either of two distribution plans for the coming year. The firm can either produce pots and pans for

Approaches to determining operations strategy, Approaches to Determining Op...

Approaches to Determining Operations Strategy This describes aspects of operations systems and performance measurement, including trade-offs between performance criteria. We

Explain how you would influence your family to understand, Discuss the impo...

Discuss the importance of influence. How you would attempt to apply it to convince your team to work an extra day per week to earn time off later. Analyze how you would influence y

Any real problem may be self problem apply the system aprf, any real proble...

any real problem may be self problem apply the system approach model to develop the appropriate solution for this problem

Regal marine, Computer-Aided Design is one of the techniques used by Regal ...

Computer-Aided Design is one of the techniques used by Regal Marine in the manufacturing of boats. With the aid of examples, critically discuss FIVE (5) techniques that are import

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd