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-timeToo Much Inventory or Too Little: Finding the Balance
Running short of inventory is a cardinal sin in wholesale or manufacturing inventory management; putting aside lost sales, not having enough inventory means failing to meet customer needs – something that any business with a long-term outlook should avoid. This doesn’t mean that a business should accumulate excess safety stock; as any busin ... Read More
March 31, 2018 just in time inventory, lean inventory, lean inventory managementThe Concept of Value Stream
When trying to create value to customers, you need to make a value stream. A value stream looks at all the steps and processes used from the beginning of value creation until the delivery of your end result to a customer. What is a value stream? In essence, a value stream is an amalgamation of […] ... Read More
December 1, 2017 customer experience, just in time inventory, lean business, online inventory managementHops Aren’t Enough: Four Quick Wins for Brewery Supply Chain Success
Although craft beer still makes up a small percentage of the beer market, tastemakers are increasingly favouring pilsners, pale ales and stouts over crisp session lagers. The craft beer industry is approaching a crunch point, with more small scale craft brewers competing for consumer loyalty than ever before. Developing a reputation for innovation ... Read More
November 13, 2017 brewery inventory management, craft beer, just in time inventory, supplier relationship, supply chain, supply chain riskDealing with Seasonal Inventory
Inventory forecasting is critical for the smooth operation of any stock-based business. Managing demand can be tricky, however, if a large part of your inventory is subject to seasonal demand. Seasonality essentially refers to inventory with repetitive or predictable supply and demand patterns over a period of time. Manufacturers, distributors and ... Read More
October 4, 2017 inventory, inventory management, JIT, just in time inventory, lean manufacturing, stock control, stock takeJust-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 efficient inventory management, inventory management, inventory management software, inventory management system, inventory methodology, JIT, just in time inventoryHighlights of Just-In-Time Inventory
Just-In-Time (JIT) inventory is a strategy used to increase efficiency and minimize waste in the manufacturing process, increasing profitability. ... Read More
March 11, 2017 eliminate waste, JIT, just in time inventory, lean inventory, manufacturing processesThe Key Features of Just-In-Time Inventory and How It Can Benefit Your Business
Just-in-time (JIT) is a production technique that was first pioneered by Toyota, to minimize the need for excess inventory through linking production to demand. In a nutshell, JIT means that a product is only ordered or manufactured once an order has been placed. This way, a business can operate with a minimum of stock and […] ... Read More
February 16, 2017 JIT, just in time inventory, just-in-time methodology, ROTA ratioWhat 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 abc categorisation, drop shipping, inventory methodology, just in time inventory, safety stock