Just In Time Essay

1826 words - 7 pages

DISCLAIMERThese papers are to be used for research/reference purposes only. These papers are provided to help students write their own paper. All papers should be used with proper references.[Just In Time 1]Running Head: Just In TimeJust In Time[Student's Full Name][University's Name][Instructor's Name][Course Title][Just In Time 2]AbstractGlobalization has started a competition among all and thus every organization need to be strategically sound in order to survive. In order for a company to survive, the most important aspect is about how far the company may is willing to improve on its productivity. For this purpose the implementation of JIT may be considered as the most important aspect. Thus the quality may be improved in a minimal time frame without any additional cost of labor and a lesser chances of wastage. The system of JIT became popular since 1980's due to the Japanese firms continuously implementing for improving productivity.[Just In Time 3]Just In TimeIntroductionThe process of Just In Time is best for the elimination of excess production, wasted steps and materials. This concept was initially developed in 1950 Japenese Toyota Motor Co. employee, Mr. Taiichi Ohono. On his visit to America, he noticed how Henry Ford works and started to take notes. The strategies related to the supply chain uncertainties, transportation, logistics and warehousing are dealt with ease in just in time approach. JIT is a useful process, since it makes use of unused amount (Black, 2009, 500-501).DiscussionFor the success of any organization, it is important that the company is willing to implement the strategies that would strengthen the process of accounting and financial aspects. Just in Time is the strategy implemented for the purpose of operating as well as developing manufacturing system. It is a useful process where wastage is eliminated through the proper utilization of resources. The purpose of it is to cut off the waste processes so that the continuous productivity may be observed. The philosophy of JIT is right place at right time and thus it is idealistically named as "Just in Time" (Black, 2009, 500-501)Unnecessary aspects are eliminated at the earliest and thus eliminates any chances for methods of faulty production, unnecessary moving of materials, or excess inventory accumulation. It is also fruitful for improving productivity in terms of investments and profits and thus the levels of inventory are reduced considerably. For the purpose of return of investment as well as improvement of profits, the level of inventory is therefore reduced. This is for the reason JIT is also referred to as stockless or lean production. Thus by cutting down various other costs with the increasing rate of inventory turnover, improving product quality, reducing production, delivery lead times and reducing variability may ultimately lead to the improvement of the product. The process of Just in Time varies from organization to organization but the guiding...

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