Consult chapter 7 of your text book or secondary available data on internet and answer the following questions.
- Why Companies adopted Lean Thinking and JIT model?
- Discuss major types of Waste, companies has to keep in mind during production.
- Assess the reasons for using lean thinking (suitable examples), what are the benefits from Suppliers to end users?
- Due to COVID 19 emergency do you think agile supply chain is the right concept in this kind of situation? Give reason with example.
The Answer should be within 4- 5 pages.
The Answer must follow the outline points below:
- Lean Thinking and JIT Concept
- Agile Supply chain
- Their Main functions
- Reasons with suitable Examples
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Explanation & Answer
Running head: LEAN THINKING AND JIT CONCEPT
Lean Thinking and JIT Concept
LEAN THINKING AND JIT CONCEPT
Lean thinking is a business approach that targets to offer a new means to consider the
manner to consolidate human actions to deliver extra gains to community and value to persons
while eradicating waste. The objective of Lean is to provide the maximum client value within the
least sustainable lead-time, whereas offering the utmost likely quality to consumers and
community in general. High optimism, security, and client delight are new goals as well as
benefits. On the other hand, Just In Time (JIT) model is a prevalent inventory management
method and form of lean procedure intended to increase efficacy, cut expenses and lessen waste
through acquiring goods just as they are obligatory. It is an approach to surge efficacy and
reduced waste by getting items just as they are essential within the production formula hence
lessening inventory expenses. Three essential components work jointly to complete a JIT model,
namely just-in-time production, overall quality management, and respect for persons. The
objective of JIT is to enhance a firm's return on investment through the reduction of nonessential expenses.
Why Companies adopted Lean Thinking and JIT model?
Lean thinking is not just a process but more than a procedure. It is a business model that
may be used in every aspect of a company and lead to better results (Gay, 2016). Many
companies are already conversant with their applications within the field of engineering and
manufacturing. But in reality, the model of lean can profit a much broader range of industries.
Most corporations can apply lean thinking model to boost productivity, lessen waste, and