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Financial Decision: Balance time and costsSupply Chain management is executed through various principles which enablecompanies to balance time and costs. One such approach is the Just-In-Time (JIT) approach.The primary element of just in time approach is to have the right amount of inventory which isavailable to fulfill the demand of the production process and consumer demand. It can includeboth raw materials and the finished goods. This concept can give a competitive advantage to aparticular industry. This makes the production operations more efficient and profitable. Theprocess allows the company to be more responsive to the customer. Through this, the companyhas less capital which is blocked in the inventory and raw materials. Holding less capital leads tominimum obsolescence to be written off. This further allows optimization of logistics andtransportation which leads to cost savings. For having a just-in-time approach, there needs to be the proper design of the process