| | |Just in Time Manufacturing | |A Briefing Paper on the Just-in-Time Philosophy | | |
Just-in-Time manufacturing is an inventory control system and process by which manufacturing companies purchase materials and produce units only as needed to meet customer demand. This system is currently used by several large manufacturers in the United States and there are many benefits to adopting the just-in-time philosophy. This briefing paper will identify the pros and cons of using the just-in-time system and how use of the web can be beneficial to the process.
More and more companies in the business world today are turning to Just-in-Time manufacturing as a means to maximize efficiency, reduce costs, and increase profits. Although this concept of manufacturing seems to be the more efficient choice for the future, the process has both advantages and disadvantages. Should more manufacturers turn to the just-in-time concept? Will use of the internet help to streamline the process?
Just-in-Time manufacturing (JIT) is an inventory control system and process by which manufacturing companies purchase materials and produce units only as needed to meet customer demand. This process allows the manufacturer to purchase and obtain the required parts or goods as they are necessary on the assembly line. As a result, this procedure alleviates the manufacturer of the cost and responsibility of keeping...
References: Songini, M. L. (2000). Just-in-time manufacturing. Retrieved January 17, 2012 from http://www.computerworld.com/s/article/54131/Just_in_Time_Manufacturing
Warren, C. S., Reeve, J. M., & Duchac, J. (2011). Financial and managerial accounting. (11 ed.). Mason: South-Western Pub.
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