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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.
Explain cost benefit analysis. Cost Benefit Analysis: This analysis is a mathematical technique for decision-making. This is a quantitative technique used to estimate the eco
1. A venture capitalist company had invested in five new businesses during the last year. The results at the end of one year were as follows: Business A: Loss $500,000, Business B:
What are the economic and social consequences of prohibiting the replacement of economic strikers?
Steffi Graf has assumed leadership of Ace Products after many years of loyal service. Ace Products is an international manufacturer of copiers, printers, and fax machines. Historic
Case 11-3 Budget the topic for this week's assignment is taken from our text (INF336 2010, Mcgraw-Hill) and refers to the City of Granston Case 11-3 at the end of Chapter 11. Using
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The long-term relationship between the inventory, throughput, and flow time of a production system in steady state is called which of the following?
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