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Major features of JIT(1) Elimination of non-value added activity: JIT manufacturing can be described as a philosophy of management, dedicate to the elimination of waste. Waste is stated as anything which does not add value to a product.(2) Factory Layout: The first stage of implementing the JIT manufacturing techniques is to rearrange the factory floor away from the batch production functional layout towards a production layout using low lines with a functional plant layout production through a No. of special departments that normally contain a group of similar machines.(3) Batch size of one: Set up time is the amount of time needed to adjust tools and to retool for various product. Long set ups a change over time make the production of batches with a small no. of units too expensive.
XYZ Industries manufactures electronic testing equipment. XYZ also installs the equipment at customers' sites and ensures that it functions smoothly. Additional information on the
Hickory Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is cons
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Graphic Analysis Whenever you have two data points, you should generally suppose a linear relationship. When you acquire more data, you can study the data to determine when there
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Creditors turnover ratio ( or payables turnover ratio) Meaning: this ratio establishes a relation ship between net credit purchases and average trade creditors. Objective
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