Just-in-time in the Real World of Inventory Management
Just-in-time inventory (JIT) is the antithesis of just-in-case inventory and can be a valuable method of reducing waste and streamlining the supply chain. The benefits of JIT inventory are numerous, although they can only be realised with hard work to set up an intricate system involving many synchronised components. In this article, we will consid ... Read More
February 20, 2019 inventory management, JIT, just in time inventory, just-in-time, just-in-time methodology, supply chain3 Successful Companies Practising Just-In-Time Systems
One of the most popular methods for inventory management is just-in-time (JIT) manufacturing. JIT refers to a system of manufacturing that lets business owners produce products once a customer has requested and paid for it, rather than having already assembled products on the shelves waiting for purchase. Many business owners use this inventory met ... Read More
February 15, 2019 dropshipping, JIT, just in time inventory, just-in-timeSuccess Stories of Just-in-Time Inventory
Just-in-time (JIT) manufacturing has been revolutionary for manufacturing and inventory management companies around the globe. JIT strives to maximise efficiency and minimise costs. The concept that underpins the JIT approach is simple, it aims to eliminate waste. Essentially, when inventory is required, it is delivered. The JIT approach differs fr ... Read More
February 2, 2019 inventory management, inventory management software, just in time inventory, just-in-timeThe 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 accurate inventory, inventory methodology, JIT, just-in-time, just-in-time methodology, production cost, supplier relationshipCan Inventory Management improve your Business Performance?
sure fire way to reduce profit margins is to have excess raw material sitting, needing to be stored, and not being turned into product which can be sold. ... Read More
January 23, 2017 business reputation, customer satisfaction, inventory forecasting, just-in-time, manufacturing