|
|
This is only a preview of the paper
Click here to register and get the full text.
Existing members click here to login
|
|
|
Just-in-Time Inventory Management
Inventory management is one of the most important aspects of operating a successful business. Every part of a business has interest in good inventory management. If inventory is poorly operated it causes operation problems as well as diminishing customer satisfaction and increasing costs. Strategically, store management must manage the overall supply chain efficiently and effectively. ... Production demands and the management of supplies are linked strategically and operationally. There are many different methods of handling inventory, but one of the most successful is just-in-time inventory. JIT is a management philosophy that strives to eliminate sources of manufacturing waste by producing the right part in the right place at the right time. It is a production system in which both the movement of goods during production and deliveries from suppliers are carefully timed so that at each step of the process the next batch arrives for processing just as the preceding batch is completed (Stevenson 684). Just in Time manufacturing is a systems approach to developing and operating a manufacturing system. It is sometimes referred to as zero inventory or stockless system because it removes the need for warehouses filled with unsold products. ... JIT also enables inventory to move more efficiently. ... It has been part of the Japanese manufacturing industry approach for quite some time.
Approximate Word count = 1092
Approximate Pages = 4.4
(250 words per page double spaced)
|
|
|
|
|
|