MGT 322 SEU Supply Chain Lean Production Logistics Management Worksheet

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OenirFbhy

Business Finance

MGT 322

Saudi electronic university

MGT

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Explanation & Answer:
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For a variety of reasons, businesses are under increasing pressure to engage lean thinking and the
JIT methodology. Before going into the reasons, it is important to note that lean thinking is a
business philosophy whose main goal is to provide a new way of thinking about how to provide
greater advantages and social benefit or to consumers while simultaneously eliminating waste.
Toyota Motor Corporation one of the most well-known instances of a company that employs the
just-in-time (JIT) methodology. The moment a customer submits an order, Toyota just obtains
raw materials in the factory, when the company is ready to begin manufacturing the automobile
in question. Inventory holding expenses are kept to a bare minimum with this technique.
Companies employ both the thinking model and the just-in-time approach to improve efficiency.
Companies rely heavily on the application of these ideas in order to maximize efficiency in their
operations. Customers' pleasure and job satisfaction can be aligned through lean thinking, for
example, which can boost efficiency. The company's effectiveness, particularly in the delivery of
services, is helpful to enhance as a result of this. A further benefit of lean thinking is that it
stimulates innovation, which allows a company to manufacture high-quality products or services
while remaining profitable, hence lowering overhead expenses to the environment, suppliers, and
customers. By procurement of raw materials only when they are required, just-in-time (JIT)
helps firms to cut wastage and expenses while also increasing efficien...


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