"Just In Time Concept Reduced The Importance Of Inventory Techniques" - What Are Some Different Examples From Industries Of Various Categories?


1 Answers

Rajesh Shri Profile
Rajesh Shri answered
Just in Time (JIT) is an important philosophy that many modern factories are following now a days. It saves warehouse space for storing inventories and in the end
improves are return on Investment (ROI) of the factories. Over the last decade purchasing and inventory control have gained much with JIT. Top executives have agreed and claimed that JIT is a major tool for current times. In fact JIT has expanded from a inventory control tool to a complete supply chain management tool in today's world.

Many major companies have adopted JIT in different ways.It was first adopted by Ford Motor Company.Ford Motors describes this as "dock to factory floor" whereby they did away with storing the parts in a warehouse.

Another big company and America's biggest consumer store 'Wal-Mart' as also adopted this concept in a big way. They are even working with their suppliers to make JIT as effective as possible.

Answer Question