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Lean Production and Just-In-Time Inventory

750-1,000 words.

- Explain how a just-in-time (JIT) inventory will be part of the lean production system.

- Include an explanation of how you anticipate JIT would help the company's subassembly area as well as an explanation of what impact these actions would have on the objectives established.

- Provide at least 2 management recommendations that would incorporate just-in-time (JIT) inventory into the lean production system.

Tips and Tricks

- Explain how a just-in-time (JIT) inventory system fits into a lean production system and how it could improve the bottleneck in the subassembly area. You should explain that cross training and standard work would add consistency and improve efficiency as well as improve quality. You should also articulate that lower inventory levels and shorter setup times would facilitate a continuous flow and allow manufacturing to focus on the work causing the bottleneck.

- Explain how a just-in-time (JIT) inventory will be part of the lean production system. Include an explanation of how you anticipate JIT would help the company's subassembly area as well as an explanation of what impact these actions would have on the objectives established. Provide at least 2 management recommendations that would incorporate just-in-time (JIT) inventory into the lean production system.

Solution Preview

//Just in Time or JIT is an increasingly effective production strategy which aims at maximizing the return of investment of a business by lowering down the process inventory or the inventory in current use for production and the carrying costs involved. This paper aims at identifying and exploring how a Just in Time inventory management technique can be a part of the lean production system.//

JIT is a strategy used for managing inventory. It monitors the inventory in a manner that the cost associated with the inventory and its maintenance is reduced to the minimum, enabling the management to use the funds in other areas. Just in time technique is an integral component of lean manufacturing. Lean manufacturing refers to a production practice which underlines that any expenditure, other than that, made on production or creation of value is seen as wasteful. This type of expenditure is to be reduced to the minimum as it has a negative impact on the organization. Lean manufacturing comprises of a number of components. It is considered as the westernized version of Just in Time inventory technique (Weygandt, Kimmel & Kieso, 2009).

Lean manufacturing comprises of a range of specialized processes and procedures that aims at reducing the inventory cost and streamlining production. Even though there is striking similarities between JIT and Lean manufacturing, certain differences can also be identified within the two. Lean manufacturing is more effective and larger in scope as compared to JIT. Lean manufacturing is a newer approach towards inventory management. Lean management can be used in order to achieve effective JIT (Weygandt, Kimmel & Kieso, 2009).

Just In time is based on a pull system of production i.e. the inventory is ...

Solution Summary

The response addresses the queries posted in 1048 words with references.

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