Operation Management

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Business Finance

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Hi how are you I have an assignment which should cover the following

1.Detailed explanation on What is JIT ,full page information

2.Detailed explanation on What are the three elements of JIT, full page information

3.At least 2 citations and References to be provided

4.Detailed explanation on the advantages of JIT at least 6 advantages

5.Detailed explanation on the disadvantages of JIT at least 6 disadvantages

6.Detailed explanation on the strategic implementation of JIT related to the selected manufacture. At least 4 strategies.

The Selected Company is PDO Sultanate of Oman

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Explanation & Answer

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SURNAME 1

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Just-In-Time Inventory Manufacturing
Just-in –time (JIT) is a manufacturing and production level in which items produced or
created to meet current market demands and not created is excess or in advance of the need. JIT
model aims at reducing flow time within the production systems and also reduces the response
time of suppliers to customers. It is an inventory strategy that firms use to increase their efficiency
and cut on wastage of recourses and inventory costs. It is a modification of traditional just in case
plan where production was in large inventories to meet cases of higher demand; this strategy
requires the producer to forecast the market demand accurately.
The purpose of JIT inventories is to avoid production exceeding demand as this may
increase the burden on business (manufacturers and retailer). The manufacturers use material
sparingly to meet distributors’ needs, and the retailers also want to have the right amount of stock
that will meet immediate consumer demands. This avoids excess production as it requires
storage/warehousing which may raise the management cost. The more valuable product is on the
market, the more sensitive its output becomes. A company will produce goods or services only if
needed on the market. It limits the production of excess or even under production and eliminates
buffer inventories. The market demand is met fully. The method is seen as an efficient production
management system.

SURNAME 2
The main elements of JIT inventory systems are: Pull Systems /Kanban system is another
factor of JIT. They are based on visibility and control of production as product or unit is produced
if there is its immediate market demand. Pull systems allow production or movement of the next
batch...


Anonymous
Just the thing I needed, saved me a lot of time.

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