The first approach of getting information is to have interview with management administrator Dr. Saifuddin While having interview with the administrator Dr. saifuddin we have gotten a good exposure of the organization that how is the organization working and dealing with its customers and how is order being fulfilled by the organization. What’s the basic process and procedure of manufacturing product. The second approach to the study of JIT Inventory Management is to interview fieldworkers and supervisor. By having some interviews with them, we’ve gone through different stage of the organization that how the efforts are being done in order tofulfill the targeted task.We also survey and experience the production line. Moreover, we examine all the activities which are included in the process(cutting, printing, binding and combing) from raw material till final good.
Page 15 CHAPTER 6: JIT(Just In Time): Just-in-time (JIT) is an inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs. This method requires producers to forecast demand accurately. IMPORTANCE AND BENEFITS OF JIT INVENTORY MANAGEMENT: Just-in-time (JIT) inventory is a strategy that manufacturers utilize to increase efficiency and decrease waste by receiving goods only as they are needed in the manufacturing process, thereby reducing the cost of inventory. Importantly, manufacturers must forecast their requirements accurately. JIT avoids the waste associated with overproduction, waiting for material and holding excess inventory. The just-in-time inventory model lets manufacturers reduce their overhead expenses while always ensuring that parts are available to manufacture their products. This allows a company’s customers to be better served, while, at the same time, lowering the cost of doing business. By using the JIT model, a manufacturer has a better level of control over its entire manufacturing process, thereby, making it easier to respond quickly when the needs of customers change. For example, Manufacturer that uses the just-in-time inventory model can quickly increase production of an in-demand product, while reducing production on products that are slowing down. With JIT, manufacturers will know when employees are needed at different stations of assembly to meet the demand of those stages of manufacturing. A more flexible workforce can focus on quality production with lower defect rates, which lower costs and increase customer satisfaction. Warehousing excess inventory can be very expensive. Reducing the amount of inventory can reduce carrying costs. Companies that employ the just-in-time inventory model may be able to reduce the number of warehouses they own, or even allow them to eliminate those warehouses altogether. A manufacturer can convert part of its warehouse into manufacturing space, increasing production.
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