Quiz 6 Help

Quiz 6 Help - Quiz 6 Help (WK6) Just In Time definition - A...

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Quiz 6 Help (WK6) Just In Time definition - A strategy for inventory management in which raw materials and components are delivered from the vendor or supplier immediately before they are needed in the manufacturing process, (Pg 407). Just-in-time (JIT) is an inventory strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs. Just In Time production method is also called the Toyota Production System. To meet JIT objectives, the process relies on signals or Kanban between different points in the process, which tell production when to make the next part. Kanban are usually 'tickets' but can be simple visual signals, such as the presence or absence of a part on a shelf. Implemented correctly, JIT can improve a manufacturing organization's return on investment, quality, and efficiency. Characteristics of Just In Time - ERP implementation - Enterprise resource planning ( ERP ) is an Integrated computer-based system used to manage internal and external resources including tangible assets, financial resources, materials, and human resources. It is a software architecture whose purpose is to facilitate the flow of information
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This note was uploaded on 08/25/2011 for the course MGMT 375 taught by Professor Martinbrennan during the Summer '10 term at Park.

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Quiz 6 Help - Quiz 6 Help (WK6) Just In Time definition - A...

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