Just in time MBA notes

[pooja]

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Hey Buddy, I want to know the Just in Time (JIT) Strategy for MBA so will you please tell me?

[pawan]

Just-in-time manufacturing is a strategy used in the business manufacturing process to reduce costs by reducing the in-process inventory level.

Just-in-time manufacturing can lead to huge improvements in quality and efficiency. It can also lead to higher profits and a larger return in investment.

It is driven by a series of signals that tell the production line to make the next piece for the product as and when it is needed.

The signals used are usually simple visual signals, such as the absence or presence of a piece needed in the manufacturing process.

A reorder level is set and new stock is ordered when that level is reached. There is no overstocking of parts. This saves on space in the warehouse.

With just-in-time manufacturing, assemblers no longer have a choice of which parts to use; every part has to fit correctly. This means that multiple suppliers are usually eliminated from the process and quality assurance is higher.

Some Key Elements of JIT:

Reduce or eliminate setup times: aim for single digit setup times (less than 10 minutes)

Reduce lot sizes (manufacturing and purchase)

Stabilize and level the MPS with uniform plant loading (heijunka in Japanese)

Reduce lead times (production and delivery)

Preventive maintenance

Flexible work force

Require supplier quality assurance and implement a zero defects quality program

Small‑lot (single unit) conveyance