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

Marginal utility., marginal utility is applied on money or not

marginal utility is applied on money or not

Elasticity, You estimate that the price elasticity of demand for one-acre p...

You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a

Business executives and choice of risk, Business Executives and Choice of R...

Business Executives and Choice of Risk *  Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso

Monopsony, advantages and disadvantages

advantages and disadvantages

Atitude of consumers towards risk, find the highest premium find the actuar...

find the highest premium find the actuarialy fair premium

Long run equilibrium, 1. Suppose that a monopolistically competitive firm m...

1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product.  The fixed cost of this facility is FC = $24.  Also, the firm ha

Area of dominant influence (adi), Area of Dominant Influence (ADI) The...

Area of Dominant Influence (ADI) The ADI is a geographic area made up of all over the world that receive signals from radio and television stations in a individual market.

POLICY FAILURE, GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure ref...

GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations:   i) When the objectives of public policy are attained partially or inadequately or in a distorted

Theories of the firm, how a firm will choose its optimal inputs, isocosts a...

how a firm will choose its optimal inputs, isocosts and isoquants explanation

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