1) How does JIT and Lean processing affect managerial decision-making for a company such as Wal-Mart?
2) What are the benefits and difficulties does this organization face in implement JIT concepts? If they cannot use JIT, what other practices could be more suitable?
Please include any reference material used. Thanks for helping me get started!!!
Before considering how Wal-Mart might benefit from JUST-IN-TIME (JIT) production, let us examine its meaning and implications; and as well the notion of "Lean Processing" in terms of its possible effect on Wal-Mart's managerial decision-making.
According to personal.ashland.edu (2010) Just-in-time (JIT) actually is defined as a 'philosophy of manufacturing based on planned elimination of all waste and on continuous improvement of productivity'. According to this site, waste results from any activity that adds cost without adding value, such as the unnecessary moving of materials, the accumulation of excess inventory, or the use of faulty production methods that create products requiring subsequent rework. According to this site, JIT (also known as lean production) should improve profits and return on investment by reducing inventory levels (increasing the inventory turnover rate) reducing variability, improving ...
Just in time systems at Wal-Mart are examined.