which one of the following is a best practice of just-in-time systems? course hero

Which of the following best describes just-in-time inventory management?

Which of the following best describes just-in-time inventory? It is a system that keeps the smallest amount possible of inventory on hand, and everything else is ordered so that it arrives when it is needed.

What is the just-in-time system best known for?

Just-in-time inventory management reduces waste, improves cash flow, increases flexibility, optimizes human resources and encourages team empowerment. Companies that are successful at JIT inventory management maximize profits by keeping investment in stock as low as possible.

Which one of the following is not a requirement of JIT system?

56) Which one of the following isnota requirement of JIT systems? A) quality deliveries on timeB) low setup timeC) training supportD) strong job specializationE) employee empowermentAnswer:D. Jones Company has decreased the number of job classifications to just a few .

What are just-in-time practices?

The "just-in-time" method is an inventory strategy where materials are only ordered and received as they are needed in the production process. The goal of this method is to reduce costs by saving money on overhead inventory expenses.

What is just-in-time production system?

Just-in-time (JIT) manufacturing is a production model in which items are created to meet demand, not created in surplus or in advance of need.

Which of the following pertains to a just-in-time production system?

The correct answer is option (d). Direct materials and conversion costs are combined into a raw and in-process inventory account to a just-in-time...

Which one of the following is not a benefit of the implementation of JIT?

Benefits of the implementation of JIT includes cost reduction, rapid throughput, quality improvement and rework reduction however, increase variability is not a benefit of it instead, its effect is the opposite. Hence, option B is the answer.

Which of the following is not considered a type of waste in JIT philosophy?

A major difference between kanban and MRP in scheduling the products to be built is that kanban is primarily a manual system. Waiting time is not considered a waste in the JIT philosophy. In the JIT philosophy, the smaller the lot size, the better.

Which of the following is characteristic of the JIT philosophy?

The correct answer is C) Suppliers/vendors are partners. A characteristic of the JIT/Lean philosophy is the formation of long-term partnerships with suppliers or vendors. These long-term relationships help ensure suppliers or vendors become partners in waste reduction.

What is just-in-time with example?

Even smaller retailers can take advantage of the JIT method to streamline the delivery process. For example, a company that markets office furniture but does not manufacture it may order the furniture from the manufacturer only when a customer makes a purchase. The manufacturer delivers it directly to the customer.

Why JIT system is important in logistic management?

JIT moves materials to the right location at the right time, just before it's needed. This increases efficiency by minimizing the space required to “hold” materials before they're actually needed. It also decreases waste and loss by receiving the correct amount of goods for the production process.

What are the three major elements of JIT?

JIT system The three elements are just-in-time manufacturing, total quality management, and respect for people.

What is just in time inventory?

A just-in-time (JIT) inventory system is a management strategy that has a company receive goods as close as possible to when they are actually needed. So, if a car assembly plant needs to install airbags, it does not keep a stock of airbags on its shelves, but receives them as those cars come onto the assembly line.

What are the benefits of JIT?

A chief benefit of a JIT system is that it minimizes the need for a company to store large quantities of inventory, which improves efficiency and provides substantial cost savings. However, if there is a supply or demand shock, it can bring everything to a halt. For instance, at the beginning of the COVID-19 pandemic, everything from ventilators to surgical masks experienced disruption as inputs from overseas could not reach their destinations in time to meet a surge in demand. 5

What is JIT in manufacturing?

The just-in-time (JIT) inventory system is a management strategy that minimizes inventory and increases efficiency. Just-in-time manufacturing is also known as the Toyota Production System (TPS) because the car manufacturer Toyota adopted the system in the 1970s. Kanban is a scheduling system often used in conjunction with JIT to avoid overcapacity ...

Why do JIT systems cut inventory costs?

JIT production systems cut inventory costs because manufacturers receive materials and parts as they are needed for production and so do not have to pay storage costs. Manufacturers are also not left with unwanted inventory if an order is canceled or not fulfilled. 1.

What are the disadvantages of JIT?

The disadvantages of JIT inventory systems involve potential disruptions in the supply chain. If a raw-materials supplier has a breakdown and cannot deliver the goods in a timely manner , this could conceivably stall the entire production line.

Who is the JIT?

JIT is attributed to the Japanese automaker Toyota Motor Corporation. Executives at Toyota in the 1970s reasoned that the company could adapt more quickly and efficiently to changes in trends or demands for model changes if it did not keep any more inventory in store than was immediately needed. 3.

Why are production runs short?

Production runs are short, which means that manufacturers can quickly move from one product to another. Also, this method reduces costs by minimizing warehouse needs. Companies also spend less money on raw materials because they buy just enough resources to make the ordered products and no more. 2.

What Is Just-In-Time (JIT)?

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How Does Just-In-Time Inventory Work?

Advantages and Disadvantages of Jit

Example of Jit

Special Considerations