Just in time production
Definition: Just in time is a system of production in which materials, parts and finished products are delivered at the precise time they are needed. This encourages lower stock holdings, shorter lead times, quicker ...
Just In Time
The principle of production and inventory control that prescribes precise controls for the movement of raw materials, component parts and work-in-progress.
Just In Time
Abbreviation: JIT
The movement of material/goods at the necessary place at the necessary time.
JIT - Just In Time - An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.
JUST IN TIME: A method of production in which inputs used in the production process are delivered to a firm or factory immediately before they are needed. Just in time limits the inventories of raw materials and intermediate goods kept on site.
Just in time (business)
M
Manufacturing bill of materials
Manufacturing resource planning
Material requirements planning
Modular BOM ...
just in time manufacturing
lean manufacturing
Operations
Popular management theories
Professional institutions in management ...
JUST IN TIME
Inventory management often benefits from studies into the development of a lean manufacturing environment.
JIT, or "just in time," is a strategy used in inventory management. With the JIT strategy, companies aim to decrease waste and inventory costs by receiving goods only when they are needed to produce products.
Since truckers are better able to offer on-time delivery and more flexible service, manufacturers can order components just in time to be used, and retailers can have them just in time to be sold.
Feeling exhausted after rushing to the accountant's office and completing your return just in time? Did you check and re-check your tax returns to see if you really have to pay that much to the IRS?
Just in Time (JIT)-this method aims to reduce costs by keeping stock to a minimum. There is a risk that you may run out of stock, so you need to be confident that your suppliers can deliver on demand. You also ...
Regularity or guarantee of delivery is also important as JIT or just in time delivery may be required.
What is an inventory system?
What are the disadvantages of a periodic inventory system?
What is just in time inventory management?
» More ...
A just-in-time inventory (JIT) system is a management system that involves inventories kept at their lowest levels possible. Goods and materials arrive just in time for use in the manufacturing or assembly process.
Just in time manufacturing
A manufacturing system where products are only produced as they are needed and raw materials are only delivered as they are required.
It is basically there to speed the process along, instead of using production methods like "made to order" or "just in time," both of which do not hold any stock, using a stock order method the units are ready and waiting.
The use of 'just in time' or 'virtual' inventories may affect the allowable method of accounting, the timing of inventory reductions, recordation of consignments, and the efficacy of inventory write-downs.
It arranges for suppliers to deliver small quantities of raw materials just before those units are needed in production. Storing, insuring, and handling raw materials are costs that add no value to the product, and so are minimized in a just in time ...
 See also: Job, Supply chain, Expense, Joint venture, Saving
  
|
RSS
