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

Why health care cost are out of control in the united states, Discuss the f...

Discuss the following statement: "Health care cost are out of control in the United States, and increasing conflicts between employers and employees are likely as employers try to

Explain what assignment minimizes the total traffic flow, Please kindly sho...

Please kindly show step by step solutions. Six processes are to be laid out in six areas along a long corridor at Linda Babat Accounting Services. The distance between adjacent

Explain external competitive policies and techniques, 1. How might a compan...

1. How might a company's business strategy affect the internal alignment policies and techniques of its Total Compensation system? 2. How might a company's business strategy affect

Explain if you sued me for coat what would be the outcome, I promise to giv...

I promise to give you my fur coat. I never give you my coat. If you sued me for the coat what would be the outcome? Support your answer using the Rule, Application, conclusion meth

Compute present value of cash flow stream by interest rates, Calculate the ...

Calculate the present value of the cash flow stream in problem 2 with the following interest rates- 1. Year 1 = 8% 2. Year 2 = 6% 3. Year 3 = 10% 4. Year 4 = 4% 5. Year 5 = 6% 6. Y

Explain five key economic variables, Identify five key economic variables t...

Identify five key economic variables that could represent major opportunities or threats to a bank in your town or city. Identify which that you believe to be most important, and d

Why is the eoq model important, 1. The annual demand for university student...

1. The annual demand for university students style note pads is 10,000 units. The supplier operates the business 300 days per year and delivers over five working days. Calculate th

Describe your views on the international cultural impact, Explain your view...

Explain your views on the 'international cultural impact' of the current banking crisis and support your answer. If it is your opinion that there is no 'international cultural impa

Make an aggregate plan using a spreadsheet, Helter Industries, a company th...

Helter Industries, a company that produces a line of women's bathing suits, hires temporaries to help produce its summer product demand. For the current four-month rolling schedule

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