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What is Just-In-Time (JIT) approach? What are the reasons for adopting JIT in an organization? State the replenishment techniques used by retailers?
Just in-time (JIT) JIT (Just-In-Time) refers to an approach to purchasing, which requires long term agreements with a few suppliers. JIT is an essential feature and a necessity in case of many perishable food commodities such as milk, fruits, vegetables, fish, meat, etc. There are stipulations which specify that certain vegetables (example, gherkins) have to reach the processing units within 6 to 10 hours from the time of harvest, for maintaining the desired quality. The JIT approach is dependent on leadership and a clear communication of "objectives and demands. It requires teamwork and collaboration internally and also with suppliers
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List out the sources of potential tender. Give a sample of contents in a call for tenders. Sources: ? Functional department in charge of the technology involved. ? Project proc
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Harley Davidson purchases components from three suppliers. Components purchased from Supplier A are priced at $ 5 each and used at the rate of 240,000 units per year. Components pu
Top Gun Records and various movie studios have decided to sign a revenue-sharing contract for DVDs. Every DVD costs the studio $2 to make. The DVD will be sold to Top Gun for $3.
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