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Essay / Research Paper Abstract
This 8 page paper gives and overview of just in time (JIT) inventory management and looks at the impact of JIT on issues such as the level of inventory held, quality, human relations, supplier relations and planning and control issues. The bibliography cites 9 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEmanjit.rtf
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Unformatted sample text from the term paper:
Often the cutting of quality and the decrease of costs may be seen as conflicting, but looking at models such as Total Quality Management (TQM) there are models which indicate
it is possible to focus on quality and reduce costs at the same time. Just in time inventory management is one of the many tools that can be used by
managers either as part or in isolation form TQM. However just in time inventory control is more often than not 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.
To understand how this can be used in a manufacturing context we need to look to the beginning of the model. 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
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