Just-In-Time (in Operation Management) Essay Sample
This essay sample focuses on just in time methods to manage inventory. The article will further explain major companies that are using JIT. Further, it will give a complete overview and history of JIT. Let’s study in detail about this strategy.
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Just in time (JIT manufacturing)
The objective of this methodology is to reduce the time within the operation and production system. It helps in reducing the response time from supplier to consumer. This technique is also known as the Toyota production system (TPS) and just in time production. Its development was held in Japan around 1960 at Toyota.
It is an inventory management method to schedule goods, raw materials, and labor to arrive exactly when required in the manufacturing process. The concept of JIT in operation management lets an organization produce a product once a consumer has requested it. This does not believe in stocking already assembled products.
JIT in supply chain management
It is a management strategy that assists raw material orders directly from suppliers to reach production schedules. Further, JIT helps in decreasing waste by receiving goods when needed. It reduces inventory cost and increases efficiency. This method assists in forecasting accurate demand to producers.
- Sale of finished goods just in time
- Assembling partly finished goods just-in-time into finished goods
Principles of JIT
The principle that the JIT technique follows is to pull through rather than push technique. That means that production must be specific to the customer order. The production cycle starts only when a customer has placed his order. Finished products are delivered when they are required.
Consequently, this methodology requires frequent delivery of finished goods. The key element followed by this methodology is lean production. Lean production is a philosophy of eliminating waste products. For example, a manufacturing company can increase the speed of car production and produce more cars while using the same resources. It helps in lowering the overall cost of production.
Many companies have adopted a just-in-time system successfully. Some companies to successfully implement JIT are
- Toyota: Toyota production has adopted this strategy successfully. This philosophy has allowed the company to keep minimum inventory stock that means lower cost. The accuracy of forecasting is significant to order a fixed amount of raw material.
- Dell: The company has leveraged JIT principles to achieve manufacturing goals. It can provide short lead times to their consumers. A seamless system allowed dell to fulfill its component requirements. It can meet the lead time requirements.
- Harley Davidson: The Use of JIT enables manufacturers to solve problems with extra inventory. It can provide short lead times and meet demand. Identify the inefficiencies in the production process and resolve them.
Advantages of just-in-time
The main advantages of JIT are it can improve product competitiveness and efficiency. It helps in doing this, as it
- Prevent overproduction
- Reduce stock capital
- Minimize transport cost and waiting time
- Dispense with the need for inventory system
- Save resources by streamlining the production system
- Decrease product defect
Despite many advantages, there are possibilities of drawbacks also.
Disadvantages of just-in-time
The drawbacks of JIT involve the potential destruction of the supply chain network. The sudden unexpected order for finished products may delay the delivery to the consumers. There is the risk of running out of stock and a lack of control over time. More planning is required as some companies have seasonal sales time frames. Therefore, they need higher stock at certain times of the year due to increased demand.
From the above article, we can conclude that implementing a JIT management strategy would be beneficial. We have gone through the advantages of JIT manufacturing in production. It helps organizations reduce wastage and save money. The main philosophy is to remove idle time, inventory, and stock. Many companies are adopting this strategy to maximize their profits.
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