Verified Document

Die To Operate A JIT Thesis

Furthermore, they do not demonstrate the sort of technological prowess and everyday excellence that will be necessary for me as plant manager not to worry. 3) Entrepreneur Magazine is geared towards startups, so the advice in this article is solid, basic advice. To an extent, the situations are oversimplified, but first-time businesspeople often overlook the importance of proper inventory management. They make these types of mistakes because they have not considered the costs associated with making mistakes in inventory management. The article's basic lessons are interesting, and valuable for the first-time entrepreneur.

4) the article in the Inventory Management Review focuses the risks of JIT on the risks of problems at the supplier. I feel that these risks can be mitigated. If a firm...

This is the performance of due diligence.
There are greater risks associated with JIT, however. There are other potential supply chain disruptions, such as transportation-related issues. Additionally, the relative bargaining power of the supplier plays a role -- if your company is sufficiently large that the supplier is dependent on it, then this can almost entirely mitigate the risk of the "rip-offs" described in the article. The article essentially warns against complacency after a JIT system in instituted -- while it cuts costs it also demands more attention than a more passive inventory system based on large storage facilities.

Cite this Document:
Copy Bibliography Citation

Related Documents

Operations and Materials Management for
Words: 642 Length: 2 Document Type: Research Proposal

Statistical process control (SPC) procedures can help monitor process behavior. A control chart also helps you record data and lets you see when an unusual event, e.g., a very high or low observation compared with "typical" process performance, occurs. Agreeing to have a Total Preventive Maintenance (TPM) approach places the responsibility for routine maintenance on the workers who operate the machinery, rather then employing separate maintenance personnel for that function.

E-Manufacturing - A New Link
Words: 22785 Length: 60 Document Type: Term Paper

Ayers (2000, p. 4) describes a supply chain as "Life cycle processes supporting physical, information, financial, and knowledge flows for moving products and services from suppliers to end-users." A supply chain can be short, as in the case of a cottage industry, or quite long and complex as in the manufacture, distribution, and sales of automobiles. In fact, the automobile supply chain has its origin in the mining of the

Finance and Accounting
Words: 1670 Length: 6 Document Type: Term Paper

business strategy commonly refereed to as Just-in-Time has become more and more dominant in many aspects of business. Corporations like Hewlett-Packard have begun to use the system to improve efficiency and customer service. Although the system has been criticized as a lofty idea or a theory rather than an attainable business practice, the company that have implemented the idea have profited form it. Moving ideas from boardrooms and ivory

Sleignt's Assertions Regarding Education and
Words: 385 Length: 1 Document Type: Thesis

Even though it is not education, several kinds of training have been used and continue to be used as technology develops. on-the-job training, classroom training, and systemic training are all methods of training. Because training does not require the extensive cognitive abilities that education requires, some fear that expert mechanical systems will be used to replace humans, though Sleight argues that an extensive reliance on this technology will decrease

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now