What is the relationship between JIT concept and forecasting? Do the two go hand-in-hand?© BrainMass Inc. brainmass.com October 24, 2018, 10:17 pm ad1c9bdddf
What is the relationship between JIT concept and forecasting? Do the two go hand-in-hand?
Forecasting and JIT goes hand in hand in that both are necessary [planning] parts of a successful business operation. JIT is a form of providing products or services to customers, as the name suggests, "just in time". Jointly, planning is an important part of a manager's job, and this is where forecasting comes in. Forecasts help managers by reducing some of the ...
This solution of 275 words explains the JIT concept and forecasting and also discusses the relationship of the two variables.
Explain the relationship between forecasting and the Just- In-Time (JIT) concept
Explain the relationship between forecasting and the Just- In-Time (JIT) concept. As part of logistics management for the firm, analyze the components of the supply chain and discuss how they help the firm to be more competitive. You are welcome to use examples where possible.View Full Posting Details