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Essay / Research Paper Abstract
This 6 page paper explains what is meant by just in time (JIT)inventory control. The paper is presented as an explanation to a small shop keeper who has found out a new large supermarket will be opening up nearby. The large supermarket is able to offer lower process and have the same size tock room as the small shopkeeper. The paper outlines the advantages and disadvantages of JIT and looks at how the value chain is managed by the supermarket from the warehouse to shelf. The bibliography cites 8 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEjitinv.rtf
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Unformatted sample text from the term paper:
the small shop, the shops itself will be seven times the size and will be selling a much wider range of goods at lower prices. Much of the reason behind
this is due to a higher level of efficiency in inventory control. The new store will be using just in time (JIT) systems which have many benefits and allow savings
to be made where the system is implemented successfully. Just in time inventory control is often associated with the concept of Total Quality Management (TQM), and is often used
as a part of a larger strategy where there is a striving for continual improvement. The foundations of this system are in the Toyota, the Japanese car manufacturer. Taiichi Ohno
developed a system that reduced 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, in this case for a manufacturing line, 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, this meant that there was no back
up stock, and any faults could hold up the production line. The benefits of this were that the level of stock was much lower (Aycock, 2003). This firstly
reduced the level of working capital that was tied up with stock. However, it also reduced much of the inventory control system that has associated costs. The use of this
type of delivery system, would mean regular deliveries, often daily for the required parts, this means there was only a small storage space required for the deliveries and as such
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