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Understanding and Presenting Just In Time Inventory Management

Design a presentation on inventory management structured by the following:

A. At its basic theory, what is Just in Time (JIT) inventory management all about?
B. From an internal, operational perspective, if JIT is strictly adhered to, what is one downside to making everything literally "to order?"
C. How does a Kanban system overcome this disadvantage?
D. How exactly does a Kanban system of visual scheduling work?
E.Describe how schedules used to be created using a forecast driven push system.
F.Describe how, under JIT, it is more of a pull system and how it works.

Solution Preview

Just-in-time (JIT) was pioneered by the Japanese and is based on an integrated set of activates that are designed to achieve high volume production using minimal inventories of parts that arrive at the workstation exactly when they are needed- elimination of waste. Thus, JIT is used in manufacturing production practices and is part of the processes of "lean manufacturing" (Jacobs & Chase, 2010).

In the basic sense, JIT means producing what is needed when needed and nothing more.

From an internal, operational perspective, downsides to using JIT are:
- Lack of ...

Solution Summary

The expert examines understanding and presenting just in time inventory management.

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