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

North west corner rule, advantages and disadvantages of north west corner r...

advantages and disadvantages of north west corner rule

Approaches to expanding long term capacity, Approaches to Expanding long te...

Approaches to Expanding long term Capacity There  are two  major  approaches to  expanding  the long  term capacity  viz. All at once and Building  a capacity  increm

Explain managements and unions at odds against each other, State how produc...

State how production standards place managements and unions at odds against each other. Why do some unions prefer the right to strike in this matter while others prefer arbitration

Describe regards to ethical business practices, I have a question in regard...

I have a question in regards to ethical business practices. Businesses are concerned with their profits, most directly sustaining and improving. One business comes to mind, Apple.

Linear programing, Ask question #Minimum 100 words acceptNas food produces ...

Ask question #Minimum 100 words acceptNas food produces to kinds of popular dark chocolate bars. the banana and coffee. the banana bar costs 0.22 to make and sells of 0.35, where a

Explain competitors seem strongest against google, Goggle's Strategy 2010: ...

Goggle's Strategy 2010: Which of the five competitors seem strongest against Google? Weakness? What is your assessment of overall industry attractiveness?

Which class might have the major impact on the workforce, Determine which c...

Determine which class protected by Title VII of the Civil Rights Act of 1964 had the greatest impact on the workforce of the 20th century. Next, determine which class might have th

Explain exempt and non-exempt employees, Differentiate between (1) exempt a...

Differentiate between (1) exempt and non-exempt employees and (2) line and staff employees.

Explain setup cost is independent of order size, 1. A stock out occurs when...

1. A stock out occurs when an item that is typically stocked is not available to satisfy a demand the moment it occurs. 2. A backorder occurs when a customer order cannot be fil

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