What is Just-in-Time (JIT) Inventory?

I'm preparing for my exams , tell me about JIT.
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Just in time (JIT) is a production strategy that strives to improve a business return on investment by reducing in-process inventory and associated carrying costs. To meet JIT objectives, the process relies on signals or Kanban (看板 Kanban?) between different points in the process, which tell production when to make the next part. Kanban are usually 'tickets' but can be simple visual signals, such as the presence or absence of a part on a shelf.
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The actual viewpoint regarding JIT is straightforward: inventorying is squander. JIT inventorying techniques uncover hidden expense of trying to keep supply, and therefore are therefore not a simple answer for a company to take. The business must follow several brand new ways to wield the outcomes in the transform. The particular tips that way associated with doing the job originate from a number of disciplines including figures, industrial management, output managing, in addition to behaviour science. This JIT products beliefs specifies the way stock is actually thought of and how the idea relates to managing.
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