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Topic: inventory methodology

Just-in-Time Inventory: Streamlined Inventory Management

Just-in-Time inventory, as the name implies, is where products for manufacture are purchased shortly before they are needed so that they arrive ‘just-in-time’. There are several advantages associated with this method of inventory management as well as a few notable disadvantages. We will look as some of these as well as some things that should ... Read More

  July 11, 2017     

The Benefits of the Just-In-Time Approach

In inventory management, the Just-In-Time or JIT system reduces wastage, improves efficiency and productivity, and contributes to smoother production flows. A shorter production cycle can decrease financial costs, inventory costs and labour costs. Below, we summarise the key features of the JIT approach. Smooth production flow One of the key featur ... Read More

  June 29, 2017     

What Are The Common Inventory Methodology?

With inventory management there really isn’t a one-size fits all methodology. It is important to tailor your approach to suit your business’ specific needs. ... Read More

  January 17, 2017