Just-in time inventory management-jit production , Managerial Accounting

Assignment Help:

Just-in Time (JIT) Inventory management

JIT is a system whose purpose is to generate or to purchase products or components as they are required by customers or for use rather than for stock.

A JIT system is a pull system which responds to demand as opposed to a push system in which stocks acts as buyers between the different element of the system like purchasing, manufacture and sales.

JIT production

Is a production system, that is driven by demand for the finished products whereby each component on the production line is produced only when needed for the next stage.


Related Discussions:- Just-in time inventory management-jit production

Illustration of standard error of estimate , Illustration of Standard error...

Illustration of Standard error of estimate The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour cos

Decision - making, Decision Making Some managers appear to have an...

Decision Making Some managers appear to have an intuitive sense of good decision making. The reality is that good decision making is hardly ever done by intuition. Consist

Terms of payment, Terms of payment vary broadly in practice. At one conclus...

Terms of payment vary broadly in practice. At one conclusion, if the seller has financial resources, she or he may extend liberal credit to the buyers, conversely the buyer pays in

What potential ethics issues, Scenario - Ahi Corporation is one of your cli...

Scenario - Ahi Corporation is one of your clients in Hawaii. The company had a good year last year and owes the IRS $100,000,000, due on March 15. There are no penalties or interes

Multiple products, differentiate between multiple product, selling product ...

differentiate between multiple product, selling product and margin managent

What are the difficulties in cost reduction, Difficulties in cost reduction...

Difficulties in cost reduction 1) Resistance by employees to pressure to reduce cost usually because the nature and purpose of the campaign has not been properly explained to t

Prepare cash budgets, QUESTION 1 PART A  You are provided with t...

QUESTION 1 PART A  You are provided with the given information relating to ABC Limited. The accountant is currently developing the budget for the next three months endin

Advance factoring and maturity factoring, Advance Factoring and Maturity Fa...

Advance Factoring and Maturity Factoring: In both recourse and non-recourse factoring whether the factor advances cash against book debts to the client instantly on assignment

Explain zero base budgeting, Introduction of zero base budgeting Steps ...

Introduction of zero base budgeting Steps involved in the introduction of zero base budgeting 1) Corporate objectives should be established and laid down in detail 2) Dec

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