Just in time scheduling - jit, Microeconomics

Assignment Help:

Just in Time Scheduling  - JIT

JIT techniques are being widely adopted by operations managers in manufacturing companies in the West. JIT ideas have not only had a profound impact in manufacturing companies, but also in service industries. JIT can be conceptualised on two levels: 

  • As a philosophy which provides vision and strategy for the organisation, and
  • On a lower level, it is a set of tools which managers use on a daily basis.

 

Before discussing JIT in detail, it is essential to first understand the philosophy. JIT originated in Japan and is used extensively in that country.

Outside Japan some managers felt threatened by the competitive edge which JIT gave Japanese companies and thus saw JIT as 'Japanese Inspired Terror'; alternatively, some managers regarded it as 'clever' and 'neat', that is 'Just Intelligent Thinking'. The latter is more appropriate. The philosophy of just-in-time is one which attempts to add value at the latest possible moment and thus eliminate all wasteful or non-value adding activity. This philosophy seems particularly appropriate for a country like Japan whose main natural resource is an able and intelligent workforce. 

There is no secret ingredient or hidden formula responsible for the success of the best Japanese companies. No theory or plan or government policy will make a business a success; that can only be done by people. 

The JIT philosophy is founded on two basic cornerstones: 

  • Elimination of waste
  • Respect for people.

Related Discussions:- Just in time scheduling - jit

The theory and estimation of cost, Write Equations Of Average Total Cost Va...

Write Equations Of Average Total Cost Variable Cost Marginal Cost, Economics Write equations for total cost, average total cost, variable cost, and marginal cost. The Central Pub

Socialist economy, Socialist Economy: The material means of production are ...

Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef

Supply and demand, Suppose scientists discover that eating soybeans prevent...

Suppose scientists discover that eating soybeans prevents cancer and heart disease. What effect would you predict on the price of soybeans?

Market Demand, Ask quesThe market demand for brand X has been estimated as ...

Ask quesThe market demand for brand X has been estimated as Qx = 1,500 - 3Px - 0.05I - 2.5Py + 7.5Pz where Px is the price of brand X, I is per-capita income, Py is the price of

Unemployment, unemployment is voluntary, discuss in view of the classical e...

unemployment is voluntary, discuss in view of the classical economists and the keynesian

Formation of nitrobenzene , reaction of mechanism of nitrous acid with benz...

reaction of mechanism of nitrous acid with benzene diazonium chloride in presence of Cuperous oxide

Describe excess profit criterion, Question 1 Discuss the short-run cost-ou...

Question 1 Discuss the short-run cost-output relations Question 2 Write a short note on pure competition Question 3 Describe excess profit criterion Question 4 Disc

Explain about the money metric utility functions, Explain about the money m...

Explain about the money metric utility functions. The Money Metric Utility Functions: It is a nice construction including the expenditure function which comes up into a vari

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