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Pages:
1 page/≈275 words
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1 Source
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APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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MS Word
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Topic:

Just-In-Time Inventory Management

Essay Instructions:

Using your textbook Berk, J., & DeMarzo, P. (2014). Corporate finance answer the following question: Just-in-time (JIT) inventory management was pioneered in Japanese manufacturing and is now widely accepted as an effective way to reduce a firm's inventory costs. What is involved in just-in-time inventory management? What factors are necessary to make just-in-time inventory management successful? How does just-in-time inventory management affect a firm's suppliers?

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Running head: BUSINESS AND MARKETING
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What is involved in JIT Inventory Management?
The just in -Time Inventory management is a system of managing inventory that is designed to improve accuracy and efficiency in production (Berk & DeMarzo, 2014). It, therefore, reduces waste during the process of production and also minimizes the inventory carrying the cost. The JIT Inventory management mostly deals with receiving production inputs as needed by a certain company. It also aims at minimizing the cost involved in the production processes. The Just In-Time Inventory Management mainly deals with the manufacturing and processing of vehicles like Toyota.
Under the Just In-time inventory management, the ship items are also manufactured in specified time having all the items within the specification. The JIT’s main objective is to eliminate inventories from the supply chain (Berk & DeMarzo, 2014). The JIT also invo...
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