Asked by Monique Duplessis on Jun 24, 2024
Verified
List four major potential benefits of successfully implementing a just-in-time (JIT)system in a manufacturing company.
Just-In-Time (JIT)
A supply chain management strategy that aims to reduce inventory costs by receiving goods only as they are needed in the production process.
Manufacturing Company
A company that produces finished goods from raw materials through the use of labor and machinery.
- Acquire knowledge about the core principles and merits of the just-in-time (JIT) methodology and its effects on managing production and inventories.
Verified Answer
TL
thato lesoleJun 30, 2024
Final Answer :
1. substantial reduction in inventory ordering and warehousing costs.
2. reduction in waste due to inventory obsolescence and pilferage.
3. a commitment to zero defects.
4. a reduction in time to complete a product.
2. reduction in waste due to inventory obsolescence and pilferage.
3. a commitment to zero defects.
4. a reduction in time to complete a product.
Learning Objectives
- Acquire knowledge about the core principles and merits of the just-in-time (JIT) methodology and its effects on managing production and inventories.
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