JIT is a principle used by most manufacturing and inventory companies aimed at reducing waste, improving...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
JIT is a principle used by most manufacturing and inventory companies aimed at reducing waste, improving efficiency, and optimising production processes. Define this principle and examine in detail the difference between the three systems it uses. JIT is a principle used by most manufacturing and inventory companies aimed at reducing waste, improving efficiency, and optimising production processes. Define this principle and examine in detail the difference between the three systems it uses.
Expert Answer:
Answer rating: 100% (QA)
JustInTime JIT is a manufacturing and inventory management principle that focuses on minimizing waste improving efficiency and optimizing production processes by delivering the right amount of goods o... View the full answer
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
Posted Date:
Students also viewed these general management questions
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Nikes approach to managing supplier responsibility has greatly evolved since the 1990s when the media uncovered claims of child labor, underpaid workers, and poor working conditions in several Asian...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Complete this production cost report. Fill in the shaded boxes. Beginning inventory Started during the month Total units to account for Completed and tranferred out Ending work in process Total units...
-
Consider a linear time-invariant system with input x[n] and output y[n] for which y[n 1] 5/2 y[n] + y[n + 1] = x[n]. The system may or may not be stable or causal. By considering the pole-zero...
-
Widmer Watercraft's predetermined overhead rate for 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows. a. Purchased raw materials on credit,...
-
In reaction turbine, stage is represented by: (a) Each row of blades (b) Number of casting (c) Number of steam exits (d) None of the above
-
A year ago a bank entered into a $50 million five-year interest rate swap. It agreed to pay company A each year a fixed rate of 6% and to receive in return LIBOR. When the bank entered into this...
-
Required: 2. After all of the transactions for the year ended December 31, 2015, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows...
-
Harold earns a salary of $200,000 from EMK enterprises as an officer during this year for the first 11 months of the year. Harold withholds OASDI (Social Security) taxes in the amount of $9,932.40....
-
Write an engagement plan for apollo shoes. Assume that apollo shoes are a publicly traded company and that they have asked for sox section 404 consulting. Include the following key points: ?...
-
What type of account is used to record costs incurred by a company in the process of earning revenue? Explain in details
-
what is the interest in having selected the 3 economic models (socialism, capitalism and mixed economy? Explain
-
Accountants record expenses in the same time period in which they occurred. This is called: The matching principle The cost principle The economic entity assumption The revenue recognition principle
-
How is the Fiji revising its fiscal framework to accommodate the additional debt needed to fund its Post COVID recovery explained in detail?
-
Calculate the economic losses for Firm 1 if they decide not to produce -$____. Output=10, average fixed cost = $1, average variable cost=$2, price = $1.50
-
Suppose that an equation for infant mortality is described by the function: = YB (1) . where it is the infant mortality rate (expressed in per 1,000 children), Y is the gross domestic product (in US...
-
A police officer pulls you over and asks to search your vehicle because he suspects you have illegal drugs inside your car. Since he doesn't have reasonable suspicion to search your car, legally he...
-
Name a firm or organization you know of that you are reasonably sure uses cost management and explain why it does so. Does it use cost leadership or differentiation, and why?
-
Ennis Inc.s Forms Solutions Group (www.ennis.com/) is a Texas-based machine-intensive printing company that produces business forms. The resources demanded by a specific job depend on the type and...
-
Silver Aviation assembles small aircraft for commercial use. The majority of its business is with small freight airlines serving areas whose airports do not accommodate larger planes. The remainder...
-
In Appendix 16A.1, we illustrate the calculation of a standard error for the marginal effect in a probit model of transportation, Example 16.4. In the appendix, the calculation is for the marginal...
-
In Examples 16.2 and 16.4, we presented the linear probability and probit model estimates using an example of transportation choice. The logit model for the same example is \(P(A U T...
-
In Example 16.3, we illustrate the calculation of the likelihood function for the probit model in a small example. a. Calculate the probability that \(y=1\) if \(x=1.5\), given the values of the...
Study smarter with the SolutionInn App