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

Oligopoly, little kona is company that is considering enter a market by big...

little kona is company that is considering enter a market by big brew

Ols, Which assumption of Classic OLS does this model violate?

Which assumption of Classic OLS does this model violate?

Positive versus normative economics, Positive versus Normative Economics ...

Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:

Microeconomic analysis, what is the relevance of microeconomic analysis in ...

what is the relevance of microeconomic analysis in contemporary Nigerian economy

What are the determinants of income elasticity of demand, What are the dete...

What are the determinants of income elasticity of demand?  There are three determinants of income elasticity of demand. These are: Degree of necessity of a good: In a developed

Explain hard currency, International economic relations also vary, in large...

International economic relations also vary, in large measure, on monetary issues.  You are unlikely to accept the Turkish Lire in payment for your wages in this country, easily bec

Ppc ., cars:0,2,4,6,8 tow truck:30,27,21,12,0

cars:0,2,4,6,8 tow truck:30,27,21,12,0

Market economy, what is market economy and how it solve the central problem...

what is market economy and how it solve the central problem

Iso-quant - long period analysis, Iso-quant: The dots in the above Fi...

Iso-quant: The dots in the above Figure denotes the various combinations of (L, K) that the producer can pick up from form to produce. Among these combinations, there can be t

Marginal revenue productivity theory, Problem 1: i) Distinguish betwee...

Problem 1: i) Distinguish between the different types of concentration measures. ii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising.

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