Students will respond to the following: • Discuss the pros and cons of a JIT relationship from a supplier’s point of view and a buyer’s point of view. The con of the JIT relationship is that problems would occur if the company has sudden breaks to service and the supply. This may lead to labor strikes‚ and then eventually a failed business. A pro of the JIT relationship would be saving cost by not having unnecessary inventories. Also another attribute is flexibility‚ allowing the company
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Over the past several years‚ increasingly‚ there has been a trend within business and manufacturing community to associate JIT with Lean operations. According to “Reference for Business” Lean methodology is Westernized version of Japanese Just-In-Time system‚ where both of these systems share mostly the same characteristics and goals‚ and often used interchangeably. Whereas there are similarities between these two methodologies‚ there are also principal differences between them. It should be noted
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The citizens of America are no longer as involved with the government as they used to be. Since World War II the voter turnout in America is continuously decreasing and has yet to stray above 65%. Shouldn’t America‚ land of the free‚ have one of the highest voter turnouts? This brings up the question; should Americans be required to vote? The United States should have compulsory voting‚ the reasons being that more persons will become educated in voting‚ other countries have successful compulsory
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Finally‚ we will discuss just-in-time (JIT) and its implications for global operations management as brought out in the Chrysler experience. Just-in-time is defined in the APICS dictionary as “a philosophy of manufacturing based on planned elimination of all waste and on continuous improvement of productivity.”(2) It can simply be described as a goal of producing the right part at the right place at the right time‚ in other words “just in time.” JIT applies mainly to repetitive manufacturing
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to maintain the component per year is $1‚292824.00 2.What would be the total annual cost of maintaining the components under the JIT system (Assuming no safety stocks)? The annual cost of maintaining the components under the JIT system would be 3. Should Ballenger take into account any other cost or benefits from JIT system? if so what are they? With the JIT system Ballenger would be less concern about maintaining a large inventory and they would less likely to experience shrinkage. The
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OPERATION MANAGEMENT (3rd ED)‚ Massachusetts‚ Simon & Schuster‚ Inc.‚ 1993. 8. Monden‚ Yasuhiro‚ APPLYING JUST-IN-TIME: The American/Japanese Experience‚ Georgia: Industrial Engineering and Management Press‚ 1986. 9. Martin‚ Nelson‚ "Just-In-Time (JIT) Inventory Practices"‚ U. S. Army Material Command‚ Virginia‚ 1989. 10. Hall‚ Robert. W.‚ Ph.D.‚ CFPIM‚ Ippolito‚ Mark‚ E.‚ CFPIM‚ JUST-IN-TIME CERTIFICATION REVIEW COURSE‚ APICS‚ Falls Church‚ VA‚ 1992. 11. Hannah‚ Kimball‚ H.‚ "JUST-IN-TIME: MEETING
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Just-in-time (JIT) is an inventory strategy of companies to increases the efficiency and decrease the waste by receiving goods only when there are needed for the production process. Thereby‚ the company can reduce inventory costs. The producers are required to forecast demand accurately in this method. The Just in Time (JIT) allows the movement of the products or materials to a specific location at the required time‚ just before the production process. The technique works when each operation is closely
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ABC inventory control should be associated with uncertainty of supply criteria‚ in order to reduce lead-times variance risk [20]. 3 Long term Recommendation As JIT approach will gradually be absorbed by the organization and cultural resistance will disappear‚ further steps could be made in the direction of a deeper JIT implementation. JIT system works better in a stable environment where parts are produced regularly [21]. Conversely‚ MRP system is preferable for
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PM (UTC/GMT) | | Summary of Results | 24% Correct of 17 Scored items: 4 Correct: | 24% | 13 Incorrect: | 76% | | More information about scoring | | | | 1. | | JIT is a philosophy of Your Answer: | variability increase. | | Correct Answer: | waste reduction. | | | | INCORRECT. JIT advocates a reduction in variability. | | 2. | | When using kanbans Your Answer: | the kanban cards provide a direct control on the amount of work-in-process between cells. | |
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