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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
5 steps in the process of evaluating the purchasing and supply system
QUESTION 1 (i) Explain a Free Trade Area with examples. (ii) Outline the activities of a Free Port. QUESTION 2 (a) (i) Define Incoterms (ii) How many Incoterms ha
Ask question #Minimum 100 words acceptatiojn importance of cost classificed#
what is the meaning of ledger account and its uses?
Probelm 1: What is an EOQ model? Describe explanation (basic EOQ model) Explanation of total cost (including formula, order cost, holding cost etc.) Graph showing EOQ mod
identify the supply chain and the partners involved
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.
Suppose Norwitch has worked out a new contract, accepted by all its customers, of being allowed up to one week to satisfy each demand. Norwitch still uses a 99% “fill rate” as a t
Define SCM and how it can benefit Zappos
Sampling Risks Any uncertainty in a project plan that potentially can be controlled, tracked or identified is termed as Risk. Risk analysis involves consideration of uncertaint
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