Answered: Which are the several drawbacks of JIT?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Which are the several drawbacks of JIT?

Expert Solution

Just-in-time (JIT):

It is a management strategy followed by organizations that align the raw material orders suppliers directly with their production schedules. This is a strategy employed by organizations to increase overall efficiency while decreasing the wastes. This is achieved by receiving only at the point when they are required in the production process. This reduces inventory handling costs. If JIT is to be successful, demand forecasting must be done accurately.

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