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

Compute price and quantity in equilibrium, In the city of Gelato the market...

In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: D(p) = 1200-25p where p is the price for one cone of ice cream. Al

Perfect Competition, Consider the market for Kitty Litter. Assume this ind...

Consider the market for Kitty Litter. Assume this industry is purrfectly competitive and is presently in long-run equilibrium. Suppose people begin to prefer Dogs as pets and Cat

Surplus- economics, Surplus: Anysector or agent in economy (business, hous...

Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure. Surplus, Economic: For the economy

Discount rate, Discount Rate The term discount rate relates to ...

Discount Rate The term discount rate relates to business valuations. It is the rate applied to a future torrent of making an income or cash flow to measure its represen

Marshalian demand, determination of optimal solution mathematical presentat...

determination of optimal solution mathematical presentation

Case study on exceptions to the law of demand., can i get a case study on s...

can i get a case study on share market or any other company about their exceptions to the law of demand?

Theory of demand, THEORY OF DEMAND: The  consumer behaviour under indi...

THEORY OF DEMAND: The  consumer behaviour under indifferencecurve approach where it is assumed that the consumer possesses a utilityfunction. The next most important theory th

305, price effect

price effect

(Bcg) matrix, Analysis of business portfolio by using Boston Consultant Gro...

Analysis of business portfolio by using Boston Consultant Group (BCG) Matrix.

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