Comparison of conventional and jit wisdom, Strategic Management

Assignment Help:

Comparison of Conventional and JIT Wisdom 

JIT philosophy

Ideal lot size is 1

Balanced production is best

Inventory is wasteful

Eliminate waste

Handle only some

Reduce or eliminate

variability

Conventional wisdom 

Large lots are efficient (keep machines working) 

Faster production is more efficient - scheduling is

necessary 

Inventory is necessary 

Waste occurs 

Materials handling is necessary 

Scheduling is necessary - there is a trade off

between utilisation and performance 

 


Related Discussions:- Comparison of conventional and jit wisdom

Explain performance ratios - return on capital employed, Q. Explain Perform...

Q. Explain Performance ratios - Return on capital employed? Return on capital employed (ROCE)    = (Profit before interest and tax (PBIT) / Capital employed) x 100%     The

What is the eva for this division, Division Y has annual operating profit o...

Division Y has annual operating profit of £40 million after charging £6 million for the development cost of a new product which has been launched and is expected to last this year

Tools to influence social control, Tools to influence social control ...

Tools to influence social control Mission statements for example purpose and goals promoted. Reward for example linking remuneration with performance. Punishment

General electric model, what are the advantages of using tha general nine e...

what are the advantages of using tha general nine electric model

Swot anlaysis, SWOT ANLAYSIS : The swot analysis of hotel arpanaa reve...

SWOT ANLAYSIS : The swot analysis of hotel arpanaa reveals interesting information about the features and services that are offered by the hotel along with the upcoming opport

Groups and teams, groups and or teams will solve all the effectiveness and ...

groups and or teams will solve all the effectiveness and efficiency challenges facing the 21st century organisations.discuss

Animal processing, what is HACCP and benefits in food industry

what is HACCP and benefits in food industry

Blue ocean starategy, Ask quest''Blue Ocean Strategy’ a. What is it? b. Wh...

Ask quest''Blue Ocean Strategy’ a. What is it? b. What are its characteristics? c. If you were to develop a Blue Ocean Strategy for a firm of your choice (any industry, any size,

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