Just-in-Time Inventory Management Explained
Uploaded by
Sajan Kumar PanditJust-in-Time Inventory Management Explained
Uploaded by
Sajan Kumar PanditName :- Sajan Kumar Pandit
Branch:- Mechanical Engineering
Sem :- 6th
Roll No :- 1907313
Presentation topic :- just in time
Subject:- Introduction To Industrial Management
JUST IN TIME
Just-in-time or (JIT) is an
Inventory management =
inventory management method refers to the process of
in which goods are received ordering, storing, using,
from suppliers only as they are and selling a company's
inventory.
needed.
just-in-time production or
the
Toyota Production System
(TPS), was first developed
and perfected within the
Toyota manufacturing plants
Basic Objective (JIT)
WAST REDUCTION
WASTE REDUCTION (MATERIAL
REDUCING)
ZERO LEAD TIME
ZERO (JIT)
ZERO INVENTORY FAILURES JUST IN TIME ZERO LEAD
TIME
ZERO FAILURES
ZERO INVENTORY
Advantages of just-in-time
you don’t need as much warehouse or
Less space need storage space to store goods. This
reduces the amount of storage an
organization needs to rent or buy,
freeing up funds for other parts of the
business.
Waste reduction
This again saves money by preventing
investment in unnecessary stock, and
reducing the need to replace
old stock.
DISADVANTAGES OF (JIT)
JIT production will not be able to adapt
well to sudden increase in volume of
demand from the market, since the
inventory levels are maintained at
much lower level.
JIT production can be very sensitive to any kind
of error. Since bare minimum inventory levels
are maintained, there is no room for any kind of
error.
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