Just-in-Time (JIT): Definition, Pros & Cons. What are the main problems with a JIT production strategy? 1. JIT production strategies can be inflexible and may not be able to accommodate changes in customer demand or unexpected production problems.
2. JIT production can lead to higher inventory levels and thus higher carrying costs.
3. JIT production may require a higher level of investment in equipment and training, and may thus have a higher initial cost.
4. JIT production can require close coordination between different parts of the production process, which can be difficult to achieve.
5. JIT production may lead to increased production errors and waste, as there is less time for quality control. What are the features of Just-in-Time? There are several key features of Just-in-Time (JIT) inventory management, which are as follows:
1. JIT seeks to minimize inventory levels by aligning production with customer demand.
2. JIT focuses on continuous improvement of the manufacturing process in order to eliminate waste and increase efficiency.
3. JIT requires close collaboration between all members of the supply chain in order to ensure smooth and timely delivery of materials.
4. JIT relies heavily on technology, such as computerized inventory systems, to track materials and production data in real-time.
5. JIT demands strict adherence to quality control standards in order to avoid the need for rework or scrap.
6. JIT inventory management can be a complex and challenging undertaking, but can result in significant cost savings and improved customer satisfaction.
Which is a benefit of a JIT just-in-time system quizlet?
JIT systems can provide a number of benefits to businesses, including:
1. Increased efficiency and productivity: By reducing the need for inventory, JIT systems can help businesses to reduce waste and increase efficiency.
2. Reduced costs: JIT systems can help businesses to reduce inventory and other production costs.
3. Increased quality: By reducing the need for rework and scrap, JIT systems can help businesses to improve product quality.
4. Increased customer satisfaction: By reducing lead times and increasing product quality, JIT systems can help businesses to improve customer satisfaction.
What are the main features of JIT production and what are its benefits and costs?
JIT production is a manufacturing methodology in which production is based on actual demand, rather than on projected demand. The main features of JIT production are:
1. Production is based on actual demand instead of projected demand. This means that there is no need to build up inventory, as products are only produced when they are ordered.
2. JIT production results in shorter lead times, as products are produced more quickly and efficiently.
3. JIT production reduces waste, as there is no need to produce items that are not ordered.
4. JIT production increases flexibility, as production can be quickly adjusted to meet changing demand.
The benefits of JIT production include reduced inventory costs, shorter lead times, and reduced waste. The costs of JIT production include the need for accurate forecasting and the need for a well-organized and efficient production process. What are the three major elements of JIT? The three major elements of JIT are:
1) Fast and flexible manufacturing processes
2) Lean inventory management
3) Continuous improvement