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Essay / Research Paper Abstract
Toyota is credited with developing the just-in-time inventory management this 5 page paper examines the inventory management systems used at Toyota, the way they are implemented along with the advantages and disadvantages associated with the systems that they use. The bibliography cites 6 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEtoyoinv.rtf
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Unformatted sample text from the term paper:
being cost effective. The basis of inventory management is a just-in-time system. This is a system which is based being pulled from the manufacturing process, demanded as it is needed,
rather than being pushed from the supply chain behind it. To have an in-depth understanding of Toyotas inventory management system the way in which just in time (JIT) inventory
control is used needs to be discussed. Today, just-in-time inventory management is associated with total quality management, and when it was developed at
Toyota it may be seen as part of a much wider strategy to increase operational performance of the company. However, as inventory management system it should be appreciated in isolation
as well as its role complementing wide organizational strategies. The foundations of the system which are currently used by Toyota were developed by
Taiichi Ohno in order to reduce the level of capital tied up in stocks as well as increasing efficiency and helping maximize the potential use of all resources, including space
(Aycock, 2003, Ivancevich et al, 1997). Just in time inventory control meant that the stock which was required, automotive parts for Toyota, would arrive just in time to be
used. Not only was the arrival important, but so was the quality, as where there is stock arriving just in time there was no requirement for back up stock which
reduces the level of resources needed for inventory management. It is necessary that there is a great of trust between Toyota and its suppliers as faults could hold up the
production line. For Toyota the average period holding stock before it is used in the Japanese factories is a mere four hours, which means instead of daily deliveries there are
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