A number of manufacturers recently have moved to a JIT inventory system. JIT systems have a number

Question:

A number of manufacturers recently have moved to a JIT inventory system. JIT systems have a number of potential benefits but also can have negative consequences for a company whose suppliers are not dependable.

Required:

1. Discuss the reasons a company might implement a JIT system.

2. What are the potential benefits of a JIT system?

3. What are the potential negative consequences of using a JIT system?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial Accounting

ISBN: 978-0078025518

2nd edition

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

See More Books

Question Posted: Jul 17, 2015 02:27 AM

See More Questions

Discuss the reasons why logisticians might be concerned with theft.
JIT purchasing has many benefits but also some risks. Do you agree? Explain briefly.
What are some potential negative individual and organizational consequences for Asian Americans of being perceived as a "model minority"?
The fraud examiner's report should have what characteristics? a. Accuracy and clarity b. Relevant and material information c. Should not contain opinions or prejudices of fraud examiner. d. All of...
Use the file statepop.dat for this problem. a. Plot the total number of veterans versus the probabilities of selection i. Does your plot indicate that unequal-probability sampling will be helpful...
Jessi Paulis started a consulting firm, Paulis Consulting Ltd., on May 1, 2017. The following transactions occurred during the month of May. May 1 Paulis invested £8,000 cash in the business in...
A spherical capacitor consists of two concentric conducting spherical shells of radii $R$ and $2 R$. (a) How long would a coaxial cylindrical capacitor made of two concentric cylindrical...
When evaluating new projects and investments, the ABC Corporation calculates after-tax cash flows and earnings assuming the firms marginal tax rate equals the top federal statutory tax rate of 35%....
How will the Information Assurance program benefit you in the future?
Firm M has a margin of 11%, turnover of 1.4, sales of $840,000, and average stockholders equity of $400,000. Required: Calculate Firm Ms average total assets, net income, return on investment (ROI),...
Your co-worker has come to you for help for several things the boss mentioned recently. Specifically, the boss was discussing the company's move to a TQM approach for its manufacturing process and...
In recent years, the managerial concepts of activity-based management (ABM), activity-based costing (ABC), and total quality management (TQM) have received considerable attention from manufacturing...
In a transmission line the voltage reflection equation is given by where K is a real constant, Z = R + jX and Z 0 = R 0 + jX 0 . Obtain an expression for , the phase angle, in terms of R 0 , R, X 0...
Apply what you know about development and development theories to speculate on the following thought experiment: " What if anything might be different about today's international economic order if...
Critically discuss the economic concept at work in the scenario below: "Nouvelle Nougat experienced a boom under the national lockdown and the opening of its online store. In one week the patisserie...
As a renowned Project Management Consultant, discuss the characteristics/attributes that define a project and highlight the factors that should be considered when choosing a project selection model...
List two micro-economic decisions that you have made in the last week. For each one of the decisions, provide reason why you think it relates to 'microeconomics'?
help with the question below. I need you to assist by answering briefly and precise. I will share a case study to go through below before attempting to help answer. So after reading the case study,...
AI can develop a personal network for banking customers (specifically, all the entities associated with a customer) to help identify potential money laundering. When conducting a financial statement...
At 31 December 20X9, the end of the annual reporting period, the accounts of Huron Company showed the following: a. Sales revenue for 20X9, $ 2,950,000, of which one- quarter was on credit. b....
The prepaid insurance account had a balance of $4,800 at the beginning of the year. The account was debited for $15,000 for premiums on policies purchased during the year. Journalize the adjusting...
The balance in the unearned fees account, before adjustment at the end of the year, is $45,000 Journalize the adjusting entry required if the amount of unearned fees sat the end of the year is $9,000.
At the end of October, the first month of the business year, the usual adjusting entry transferring rent earned to a revenue account from the unearned rent account was omitted. Indicate which items...
Ray, a high-net worth individual, is a new client of your CPA firm during tax season in the spring of 20X1. Ray tells you about an investment of his during 20X0. When you tell Ray that his investment...
Give an example of an opportunity cost that an accountant would not count as a cost. Why would the accountant ignore this cost? An accountant would not count the owners opportunity cost of...
We choose the parameter where L(0) = Rd to minimize the regularized empirical risk, L(0) + Xr(0), (x, y) is the empirical loss, r(0) is the regularizer, and > >0 is the regularization parameter. (The...

A number of manufacturers recently have moved to a JIT inventory system. JIT systems have a number

Question:

Step by Step Answer:

Inventory strategy corporations employ to upsurge ef...View the full answer

Managerial Accounting

Students also viewed these Managerial Accounting questions