Jit purchasing-jit aims, Managerial Accounting

Assignment Help:

JIT purchasing

On the other hand is a purchasing system in which material purchased are contracted so as that the receipt and usage of materials to the maximum extent possible, coincide.

JIT concept can be traced back to the Japanese company whose success in the international market generates interest among many western companies as to how this success was achieved.

The implementation of JIT production methods was considered to be pursuit of excellence in all phase of manufacturing systems design and operations.

The JIT are to produce the required items at the required quality and in the required quantities, at the precise time that they are required.

JIT seeks to achieve the following aims:

(1). Removal of non-value adding activities.
(2). Zero inventory
(3). Zero defects
(4). Batch magnitude of one.
(5). Zero break-downs
(6). 100% on time delivery services.

The above goals represent perfection and are most unlikely to be archived in practice. They do though offer targets and generate a climate for continuous progress and excellence.


Related Discussions:- Jit purchasing-jit aims

Illustrate the important steps of budgetary control, Important steps of bud...

Important steps of budgetary control There are certain steps which are essential for the successful implementation of a budgetary control system. They are as follows: 1) Or

Permanent abandonment of premises, PERMANENT ABANDONMENT OF PREMISES A ...

PERMANENT ABANDONMENT OF PREMISES A company may find it more profitable to concentrate its output in some factories by closing down others.  The decision, in this instance, is

Evaluation of the regression model, EVALUATION OF THE REGRESSION MODEL ...

EVALUATION OF THE REGRESSION MODEL The regression equation calculated above was based on the assumption that cost varied with the units produced. However, a number of different

Controlling, Controlling Things hardly go exactly as planned, and manag...

Controlling Things hardly go exactly as planned, and management should make a concerted effort to the monitor and adjust for their deviations. The managerial accountant is the

Explain the cost oriental pricing policy, Cost oriental pricing policy ...

Cost oriental pricing policy Cost of production of a product is the most important variable and most important determinant of its price. There may type of costs such as-fixe

Types of cost classifications, can you better explain to me the classificat...

can you better explain to me the classification by traceability and the classification by function?

Line of credit, It is a commitment by a bank to lend a specific amount of f...

It is a commitment by a bank to lend a specific amount of funds on demand identifies the maximum amount of unsecured credit the bank will allow the customer to borrow at any time.

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