Explain about the just in time philosophy, Operation Management

Assignment Help:

Explain about the just in time philosophy.

Just in time (JIT):

This philosophy requires which products must only be produced when there is an internal/external customer waiting for them. This aims ideally for zero stock for example as raw materials delivered instantly at the time they are required, no build up of work-within-progress in production and finished goods merely produced when there is a customer waiting for them. It implies cash is not tied up unnecessarily within raw material, work-in-progress or finished goods stock, permitting more effective cash flow management for the organisation. Just in time is an illustration of a chase demand strategy for balancing capacity or supply and demand.


Related Discussions:- Explain about the just in time philosophy

Explain displayed letter strokes in centimetre, Assume you are going to giv...

Assume you are going to give a presentation to about 30 people in a medium sized room. In order to maximize the contrast, you used black letters on white background in your slides.

Expalin possible core competencies of wild west, Wild west,Inc., is a regio...

Wild west,Inc., is a regional telephone company that inherited nearly 100,000 employees and 50,000 retirees from AT&T. Wild West Inc. has a new mission: to difersify.It calls fo

Explain legal and ethical behaviour in marketing, Describe the difference b...

Describe the difference between legal and ethical behaviour in marketing. Give an example of each as it pertains to marketing

Explain total complaints represented by the two mos, See data table below: ...

See data table below: This is a 6 month period for a grocery store. Construct a Pareto analysis of the data and determine the percentage of total complaints represented by the two

Factors responsible for plant location choice, Factors Responsible for plan...

Factors Responsible for plant Location choice The physical factors associated with location of an enterprise can have a significant impact on the operations of an enterprise a

Explain the features of six sigma, Question 1: Explain the features o...

Question 1: Explain the features of Six Sigma. • shifts the paradigm quality as the cause of good business performance • The philosophy is to make fewer mistakes. • Is a

Explain the fit for gbi of this particular for-profit avenue, Discuss the f...

Discuss the fit for GBI of this particular for-profit avenue Eileen o'brien has chosen?

Questions, A manufacturer of business copier workstations has a 75 percent ...

A manufacturer of business copier workstations has a 75 percent customer retention rate. Their accounting department estimates the incremental contribution to profit and overead as

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