Question

In: Accounting

Please explain about JIT: Just-In-Time production systems in 1000 words? Structure your paper as follows: Cover...

Please explain about JIT: Just-In-Time production systems in 1000 words?

Structure your paper as follows:

Cover page

Overview describing the importance of the research topic in your own words

Purpose of Research of the article in your own words

Review of the Literature summarized in your own words

Conclusion in your own words

Personal Thoughts

References

Solutions

Expert Solution

Just in Time Production:
A just in time approach is a collection of ideas that streamline a company’s production process activities to such an extent that wastage of all kinds viz., of time, material, and labour
is systematically driven out of the process. JIT has a decisive, positive impact on product costs.

“Just-in-time (JIT):A System whose objective is to produce or to procure products or components as they are required by a customer or for use, rather than for stock. Just-in-time system Pull system, which responds to demand, in contrast to a push system, in which stocks
act as buffers between the different elements of the system such as purchasing, production and sales”.
“Just-in-time production: Production system which is driven by demand for finished products, whereby each component on a production line is produced only when needed for the next stage”.
“Just-in-time purchasing: Purchasing system in which material purchases are contracted so that the receipt and usage of material, to the maximum extent possible, coincide”.
A JIT system comprises of a number of subcomponents, which are discussed in this chapter.
A complete JIT system begins with production, includes deliveries to a company’s production facilities, continues through the manufacturing plant, and even includes the types of transactions processed by the accounting system.
“Process that vastly reduces the amount of raw materials inventory and improves the quality of received parts”
• To begin with, a company must ensure that it receives products/spare parts/materials from its suppliers on the exact date and at the exact time when they are needed. For this reason the purchasing staff must investigate and evaluate every supplier, eliminate those which could not keep up with the delivery dates.
• In addition, deliveries should be sent straight to the production floor for immediate use in manufactured products, so that there is no time to inspect incoming parts for defects.
• Instead, the engineering staff must visit supplier sites and examine their processes, not only to see if they can reliably ship high-quality parts but also to provide them with engineering assistance to bring them up to a higher standard of product.
• As soon as suppliers certify for their delivery and quality, the concern must install a system, which may be as simplistic as a fax machine or as advanced as an electronic data interchange system or linked computer systems, that tells suppliers exactly how much of which parts are to be sent to the company.
• Drivers then bring small deliveries of product to the company, possibly going to the extreme of dropping them off at the specific machines that will use them first.

So, JIT system aims at:
• Meeting customer demand in a timely manner
• Providing high quality products and
• Providing products at the lowest possible total cost.


The five main features of JIT production system:
• Organise production in manufacturing cells, a grouping of all the different types of equipment used to make a given product. Materials move from one machine to another where various operations are performed in sequence. Material – handling cost are reduced.
• Hire and retain workers who are multi-skilled so that they are capable of performing a variety of operations, including repairs and maintenance tasks. Thus, labour idle time gets reduced.
• Apply TQM to eliminate defects. As, there are tight link stages in the production line, and minimum inventories at each stage, defect arising in one stage can hamper the other stages. JIT creates urgency for eliminating defects as quickly as possible.
• Place emphasis on reducing set-up time which makes production in smaller batches economical and reducing inventory levels. Thus company can respond to customer demand faster.


Related Solutions

In a short paragraph (100-200 words), please read 3 scholarly articles about just-in-time (JIT) and summarize...
In a short paragraph (100-200 words), please read 3 scholarly articles about just-in-time (JIT) and summarize its benefits and limitations in the manufacturing sector. Identify the principal objective in a just-in-time production system. Why JIT is more effective if used in the high-volume manufacturing such as automobile industry? (Examples of scholarly articles can be found in journal papers, conference papers, report and presentations from academic institutes, governmental webistes, etc.)
Definition of Just in Time and techniques of JIT, Difference between Traditional and JIT purchasing. Your...
Definition of Just in Time and techniques of JIT, Difference between Traditional and JIT purchasing. Your detailed essay answer should be at least 2 to 3 pages long with suitable examples.
Why are JIT (Just-In-Time) systems not realistic in Cuba? (Give multiple reasons)
Why are JIT (Just-In-Time) systems not realistic in Cuba? (Give multiple reasons)
1.Which of the following is a benefit of a just-in-time (JIT) system? Multiple Choice Production workers...
1.Which of the following is a benefit of a just-in-time (JIT) system? Multiple Choice Production workers are always busy. Fewer field warranty visits are required. Scrap costs are reduced. Funds that have been tied up in inventories can be used elsewhere. 2.A manufacturing company has implemented just in time (JIT) into their process. JIT is part of: Multiple Choice total quality management process re-engineering. the lean business model. the theory of constraints.
Explain the purpose of Just-in-time inventory systems
Explain the purpose of Just-in-time inventory systems
Please answer fast! time limit ! just need 200 words+ Business Law paper 1.Identify the key...
Please answer fast! time limit ! just need 200 words+ Business Law paper 1.Identify the key legal issue(s) and address the question raised; 2) identify and correctly summarize supportive case law and any applicable statutory law and 3) in your analysis, apply law, including case law, to the facts in the essay prompt. Question:Bianca was hired to drive an airport shuttle for a hotel. When Bianca was hired, she signed a written contract that stated specifically that she was an...
Please compose a research paper of 3-5 pages (not including cover and references) about the future...
Please compose a research paper of 3-5 pages (not including cover and references) about the future trends of Long Term Care in the next 10 years. Hypothesize, how YOU think Long Term Care will be like in 2025 and support your theory with facts. What trends do you think would develop to face the future challenges? What regulations will be established? What laws will possibly be eliminated or reinforce if any? In your paper, include all aspects of long term...
Please compose a research paper of 3-5 pages (not including cover and references) about the future...
Please compose a research paper of 3-5 pages (not including cover and references) about the future trends of Long Term Care in the next 10 years. Hypothesize, how YOU think Long Term Care will be like in 2025 and support your theory with facts. What trends do you think would develop to face the future challenges? What regulations will be established? What laws will possibly be eliminated or reinforce if any?    In your paper, include all aspects of long term...
In your words explain what is RACE. Please make sure not to limit your answer just...
In your words explain what is RACE. Please make sure not to limit your answer just to the physical features. I'm interested to read your opinion on how you think the concept have been utilized at the social, economic and government levels.
In your own words, what would you say to the patient? Please be sure you cover...
In your own words, what would you say to the patient? Please be sure you cover everything that was seen in his lungs, heart and adrenal glands. DO NOT use medical terminology. You need to discuss calcifications, adrenal adenomas, the coronary artery, cardiomegaly, lymph nodes, and all of the nodules that were listed (mediastinal, pretracheal, precarinal, subcarinal) and the fact that intravenous contrast is now being recommended. CT OF THE CHEST WITHOUT CONTRAST HISTORY: Shortness of breath. FINDINGS: CT examination...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT