Just in time is a type of manufacturing that was created by Toyota. It is a very cost effective and efficient method of keeping up with stock levels. The whole point of Just in time is to make sure that you are minimizing the amount of inventory you are holding at one point in time without the compromise of slower production. This allows your business to need less space, better turnaround, and in turn that means less investment.
Key Takeaways:
- Toyota was the first company to start to use JIT model.
- A lot of benefits are made when you go by this model
- Many companies are trying to incorporate JIT into their systems, but are missing crucial aspects of it.
“To achieve this kind of lean management, it requires extremely careful planning to manage the entire supply chain including raw material procurement to finished good delivery to the end customer.”
Read more: https://www.knowledgehut.com/tutorials/project-management/just-in-time-jit-manufacturing
