Management models Student Number: 1011331 Module Leader: Barry Simmons Date of Submission: 27th April 2012 The two management models that will be critically evaluated on their usefulness to managers in the service sector are the Just-in-Time (JIT) and the Lean manufacturing models. These two manufacturing models were invented in the early 1960s which have been in used and practised in the manufacturing industries and at this present time in world economy‚ it is commonly take place in the East
Premium Lean manufacturing Manufacturing
Just-In-Time Inventory System Just-in-time (JIT) inventory systems greatly reduce inventories. The philosophy of a JIT system is that materials should arrive exactly as they are needed in the production process. Many large companies use this type of inventory system as opposed to warehousing large amounts of inventory at all times. The system requires careful planning and scheduling‚ and extensive cooperation between suppliers and manufacturers is needed throughout the production process. Advantages:
Premium Inventory Management Industry
Pg1Pg1 JUST IN TIME PRODUCTION JUST IN TIME PRODUCTION A PROJECT REPORT Under the guidance of Mr. Deepak Dhuri & Rajesh Gujrathi Submitted by SANJAY KUMAR JHA (Registration No: 510916614)
Premium Manufacturing Lean manufacturing Kanban
could do anything they wanted to. As a child‚ it is good to have a marginal place. It has a way of keeping a marginal mindset. When I was a kid‚ my marginal place was the park. At the park‚ you could do anything‚ but my personal favorite was to rollerblade. It was a mind clearing place from the outside world where people constantly try to judge you. In the park‚ you could hear and see the beauty of nature: things like the birds singing when you pass by‚ the water glistening in
Premium Human
Just in time production (JIT) Just in time is a ‘pull’ system of production‚ so actual orders provide a signal for when a product should be manufactured. Demand-pull enables a firm to produce only what is required‚ in the correct quantity and at the correct time. `Just-in-time ’ is a management philosophy and not a technique. It originally referred to the production of goods to meet customer demand exactly‚ in time‚ quality and quantity‚ whether the `customer ’ is the final purchaser of the
Premium Lean manufacturing Toyota Production System Manufacturing
Due to JIT practices there is most likely not many couplings available so contracting the outside sources needs to happen fast. Mr. Folley needs to begin cleanup of the plant and reconstruction now. He needs to assess the amount of damage to the metal-stamping machines and develop an accurate estimate of how long it will take before Caterpillar can begin producing its own couplings again. 2. Given the inherent risk in JIT and the trauma that the companies have experienced‚ why has JIT survived
Premium Manufacturing Assembly line Production and manufacturing
Just in Time Inventory System Just in Time (JIT) manufacturing is a production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand (Steyn‚ 2010). The basic principle of JIT is that every component needed in the manufacturing system arrives just in time for it to be used. Stock holding facilities are not required with this system because the needed products arrive when needed. Automobile industries‚ like Toyota Motor
Premium Manufacturing Inventory Lean manufacturing
2.1 Strategic Cost Management and the Value Chain Introduction This article by John K. Shank and Vijay Govindarajan discuss in depth on the Strategic Cost Management (SCG) and the Value Chain concept applied in real world situation from the airline industry. The Value Chain concept is divided into two (2) main strategies which are the Low-Cost Strategy and Differentiation Strategy. From the article also‚ Shank and Govindasamy stated that the primary focus of a low cost strategy is to achieve the
Premium Management accounting Cost accounting Costs
This can only be done by JUST IN TIME (JIT) philosophy. JIT is both a philosophy and collection of management methods and techniques used to eliminate waste (particularly inventory). Waste results from any activity that adds cost without adding value‚ such as moving and storing. Just-in-time (JIT) is a management philosophy that strives to eliminate sources of such manufacturing waste by producing the right part in the right place at the right time. Features JIT (also known as lean production or stockless
Premium Toyota Lean manufacturing Inventory
Just In Time system (JIT) was developed at the Toyota Motor company in Japan in the mid- 1970s by Taiichi Ohno and several of his associates. The roots of JIT system can be traced to the Japanese environment wherein lack of space and lack of natural resources necessitated efficiencies in processes and the use of limited natural resources. Thus the Japanese have developed an aversion to waste of any type‚ whatever it may be. Scrap and rework were also considered waste and thus they strive for perfect
Premium Lean manufacturing Toyota Production System Toyota