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Old October 24th, 2019, 11:24 AM
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Default Just In Time Inventory

Hello sir, what is Just In Time Inventory? Which are the special sections of Just In Time Inventory? Please provide me use of Just In Time Inventory?
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Old October 24th, 2019, 11:50 AM
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Default Re: Just In Time Inventory

The Just In Time Inventory is an accounting tool. Just in time inventory is the reduced amount of inventory owned by a business after it installs a just-in-time manufacturing system.

This type of system is called a "pull" system. The intent of a JIT system is to ensure that the components and sub-assemblies used to create finished goods are delivered to the production area exactly on time.

Doing so eliminates a considerable amount of investment in inventory, thereby reducing the working capital needs of a business.

Methodology:

Housekeeping physical organization and discipline.
Make it right the first time elimination of defects.
Setup reduction flexible changeover approaches.
Lot sizes of one the ultimate lot size and flexibility.
Uniform plant load leveling as a control mechanism
Balanced flow organizing flow scheduling throughput
Skill diversification multi-functional workers
Control by visibility communication media for activity.
Preventive maintenance flawless running, no defects
Fitness for use producibility, design for process.
Compact plant layout product-oriented design
Streamlining movements smoothing materials handling
Supplier networks extensions of the factory.
Worker involvement small group improvement activities
Cellular manufacturing production methods for flow
Pull system signal [kanban] replenishment/resupply systems.

Sections:
Managerial finance
Financial accounting
Management accounting
Mergers and acquisitions
Balance sheet analysis
Business plan
Corporate action

Societal components:

Financial law
Financial market
Financial market participants
Corporate finance
Personal finance
Peer-to-peer lending
Public finance
Banks and banking
Financial regulation
Clawback
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