Business Process Improvement For Manufacturing And Service Industry- 18 Proven Methodologies to Maximize Organizational Effectiveness, Efficiency and Profitability. ... Improvement by Shruti Bhat

Author:Shruti Bhat [Bhat, Shruti]
Language: eng
Format: azw3
Publisher: Shifting Paradigms Publications, Canada.
Published: 2015-04-21T04:00:00+00:00

When it comes to the Just in Time strategy, a certain number of orders is only restocked when all the items have been used, or a certain level has been reached often called EOQ (economic order quantity). There is never an abundance of goods or parts, which is great for those that have limited storage space as well as funding. Just in time is therefore extremely beneficial to the company due to higher returns of the investment and low overhead costs.

JIT approach had been first implemented by the automobile sector in the 1970’s, based on ideas that were already in use by other manufacturers. There are some on-going discussions about who invented the JIT approach. Was it Toyota or Ford? Published reports cite that- both have given credits to each other and collaborated working on developing JIT approach. Henry Ford’s company worked on the JIT principle and found that this method made his business process smoother and allowed for higher and quicker turn over, as well as cut costs on excess materials.

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