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Just In Time (JIT) Inventory System

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This posting analyzes the Just In Time (JIT) inventory system with the examples of Dell, McDonald's and Wal-Mart.

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Just In Time (JIT) is a Pull' (demand) driven inventory system in which materials, parts, sub-assemblies, and support items are delivered just when needed and neither sooner nor later. Its objective is to eliminate product inventories from the supply chain. As much a managerial philosophy as an inventory system, JIT encompasses all activities required to make a final product?from design engineering onwards to the last manufacturing operation. JIT systems are fundamental to time based competition and rely on waste reduction, process simplification, setup time and batch size reduction, parallel (instead of sequential) processing, and shop floor layout redesign. Under JIT management, shipments are made within rigidly enforced 'time windows' and all items must be within the specifications with very little or no inspection. ...

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This posting analyzes the Just In Time (JIT) inventory system with the examples of Dell, McDonald's and Wal-Mart.

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Please describe what Just In Time inventory systems are, the Pros and Cons and factors that affect JIT Systems. Please provide at least 200 words and a reference.

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