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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.
Frameworks for Developing Performance Measures There are a number of approaches which will be described here in broad terms: The Kaplan and Norton balanced scorecard
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The stylized blue and white waves in an oval shape that appear on every package of Ocean Spray brand products is an example of a copyright trade name service mark brand
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