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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.
Do you believe there is a difference between a business decision and an ethical decision or are they one in the same. 2. Give a specific example of a decision that you have had to
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explain the series of steps involved and various factor effecting location decion?
Assess the challenges of managers providing accurate, timely, and effective feedback to employees. Recommend how managers can overcome any two of the challenges you identified.
APPLYIING EBQ MODEL, WHAT BATCH SIZE WOULD YOU RECOMEND FOR THIS PRODUCT
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