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

Simo or simultaneous motion charts , Simo Or Simultaneous Motion Charts  ...

Simo Or Simultaneous Motion Charts  This chart (see figure), which employs the timescale of the multiple-activity chart, is used in conjunction with (or instead of) the two h

Supply, Introduction about law of supply

Introduction about law of supply

Operations challenges, Task 1 Read: Chapter 1 of the core learning material...

Task 1 Read: Chapter 1 of the core learning material and supporting text book chapters which relate to Operations Management. Choose an organisation with which you are either in

Least factors to a project manager when building a team, Compare and contra...

Compare and contrast attributes that are most and least important to a project manager when building a team. Provide a work or project example to support your answer. Back up your

Explain open communication, Some organizational culture characteristics mak...

Some organizational culture characteristics make project success more likely. These characteristics include all of the following EXCEPT: A. Support for cross-functional teams

Explain several ways that companies learn from their mistake, What perceptu...

What perceptual problems do managers need to overcome with failures? How can these perceptual problems be minimized? 2. Describe the experiential learning process that companies, m

Construct a large wing on the existing hospital, Chris Suit is administrato...

Chris Suit is administrator for Lowell Hospital. She is trying to determine whether to build a large wing on the existing hospital, a small wing or no wing at all. POPULATION TR

Explain the company is expected to maintain growth rate, The Lo Tech Co. ju...

The Lo Tech Co. just issued a dividend of $2.30 per share on its common stock. The company is expected to maintain a constant 7 percent growth rate in its dividends indefinitely.

Explain transportation problem, How many constraints are there in a transpo...

How many constraints are there in a transportation problem which has 5 supply points and 4 demand points?

Methods used in manufacturing - operation strategy, Methods Used in Manufac...

Methods Used in Manufacturing - Operation Strategy Many of the methods used in manufacturing are just as applicable; however a greater degree of customisation will be required

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