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

Brief overview on signs and symptoms, Project requirements: Refer to Table...

Project requirements: Refer to Table and answer the following questions for EACH organism listed above. Word requirements are outlined for each question - this represents a minim

Boltzmann distribution, Boltzmann Distribution: In most cases of interest o...

Boltzmann Distribution: In most cases of interest of chemistry the particles adopt the Boltzmann distribution. Qualitative considerations: the general expression for W given by eq

Why might an oligopoly be reluctant to change its price, Why might an oligo...

Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.

Aggregate supply curve for entire economy, 1. Explain how the aggregate sup...

1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a

Internal and external economies of scale, Internal and external economies o...

Internal and external economies of scale: Internal economies of scale are the advantages or benefits that the firm enjoys as it expands its size or increases its scale of ope

Exchange rates, EXCHANGE RATES: The current unit focuses on exchange r...

EXCHANGE RATES: The current unit focuses on exchange rates and is a more in-depth study of foreign exchange markets from the perspective of financialeconomics.You have been ac

Society of international financial telecommunications, Society of Internati...

Society of International Financial Telecommunications: The foreign exchange market operates worldwide, that is, the reach of the foreign exchange market is global. The foreign

Revenue, draw the supernormal curve

draw the supernormal curve

Estimating occupational structure, Estimating Occupational Structure of the...

Estimating Occupational Structure of the Labour Force within Economic Sectors in the Target Year The total output in the economy, the sectoral shares therein and labour produc

Define the returns to scale in production technology, Define the returns to...

Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a

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