- Putting the Just-In-Time Philosophy into Practice
- JIT Just-in-Time manufacturing
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If run properly, JIT inventory management is seen as one of if not the best ways of managing inventory. While it is not without risks, it has significant rewards, and is ideal for those who are able to plan carefully in advance, and build strong relationships with suppliers.
Putting the Just-In-Time Philosophy into Practice
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JIT Just-in-Time manufacturing
Perhaps the best is the one Ford wrote himself. While Ford created techniques that led to Lean methodologies, the one area he did not account for was variation.
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His processes, while revolutionary, did not allow for the types of variations that modern businesses require. In short, he was great at making a Model T. But when people wanted something other than a Model T, there were challenges.
Much of it involved technical changes in how machines worked, the progression through the workflow and communication between different process teams. But, in short, they found a way to make high quality, low cost products that met the changing desires of the customer. Things now have come full circle.
While Ford founded many of the principles used in Lean manufacturing, they were perfected in Japan. Now, U. At Ford, executives have received Six Sigma training and certification. More than 10, employees have been trained in the methodology. Automobile parts maker Southland C. All of this has its roots with Henry Ford. Striking the best deals with suppliers.
If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. Advantages of just in time inventory management Companies like to use JIT as it is seen as a more cost efficient method of holding stock. All of these advantages will save the company money.
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Disadvantages of just in time inventory management JIT unfortunately comes with a number of potential disadvantages, which can have a significant impact on the company if they occur. Want to become a qualified accountant?
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