StudentShare solutions
Triangle menu

Critical assessment and measurement of costs involved in the operation of JIT policy - Essay Example

Not dowloaded yet

Extract of sample
Critical assessment and measurement of costs involved in the operation of JIT policy

In this report, we will try to identify the hidden costs of implementing JIT system and assign monetary value to them.
The purpose of this report is not to reject the effectiveness of JIT, but to evaluate the exact benefit derived from this system and whether the effectiveness of this system will be universal for all business concerns or not.
90% of this work is original and is based on primary research in form of Focus Group, Interviews. The deductions, implications and examples quoted are original. References are used only for definitions and the various components for the JIT theory.
Survey Research Method: The second method used is the Survey Research method, which according to Kotler "Surveys are best suited for descriptive research". In our case, the survey comprised of a sample of Production/Operations Managers in different industries.
At present, almost all management schools of thought are in favour of JIT system. Due to the success of its implementation in Toyota Motors and Japanese companies the tendency of all Production/operations managers is towards implementing JIT.
In this regard, a paper retrieved on 20th December 2007 from www.wikepedia.com was particularly useful resource material since it gave insight onto the problems built into the JIT system and problems faced with implementation of the JIT system. In the "Critical Assessment of JIT, costs associated with JIT" section of this report, some points are included form the work on www.wikipedia.com/critical assessment of JIT.

The second most useful secondary Internet resource material was collected from www.1000ventures.com. This gave a detailed insight into the components of JIT. These components are included in table form in this report. The detailed knowledge of these components has given me an insight into what can be the cost components or hitches in implementing and practicing JIT.

Other than this, ...Show more

Summary

JIT is a management theory of the1950's era which created a hype in the business circles and even after so many years, has managed to retain the ado and is the ultimate aim of all business concerns to achieve JIT in their production and inventory management systems…
Author : mjacobs
Critical assessment and measurement of costs involved in the operation of JIT policy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Critical assessment and measurement of costs involved in the operation of JIT policy"
with a personal 20% discount.
Grab the best paper

Related Essays

Intellectual capital measurement: a critical approach
This paper’s analysis entails exploratory facts as an object used in business; the connection between the facts agents and its notable raise; and, depicting how information and communication knowledge has allowed the creation and diffusion of information.
5 pages (1250 words) Essay
JIT variability
Closely allied to Lean Production methods, the aim of JIT production is to offer value to the customer, when it is wanted and with very little waste. Variability in the context of JIT systems is 'deviation from optimum'. As a result of variability quality and efficiency of the production process gets reduced.
2 pages (500 words) Essay
Getting Involved in Health Policy
Therefore, it is crucial for them to be at the forefront advocating for policy reforms (Abood, 2007). Developing an interest in the advocacy for changes in the health care policies requires a nurse to step into unfamiliar, uncomfortable territories. Battling for allocation of scarce resources and the passing of legislation that will impact health care are the main characteristics of these unfamiliar places (Abood, 2007).
3 pages (750 words) Essay
Critical analysis of an assessment process and decision you have been involved in as a co or associate mentor.this would normall
Since mentors spend most time with students in the clinical area, they are in the best position to judge student’s capabilities and to guide and assist them in developing and achieving their learning objectives. The NMC (2006) states that nurses who take on the role of mentorship must be registered with the NMC and be on the same part register as the student they assess.
8 pages (2000 words) Essay
Measurement
Measurement can be considered to be one of the world’s more practical discoveries and is present in almost everything that individuals involve themselves in (Emerson 46). It also plays a large role in various industries and is an essential part of the calculations that take place in their activities.
4 pages (1000 words) Essay
CRITICAL ASSESSMENT OF THE OPERATION OF EQUALITY LEGISLATION
At the European Council meeting in Lisbon during March 2000, the Heads of States and various Governments of the European Union met in order to make arrangements for the
6 pages (1500 words) Essay
JIT variability
As a result of variability quality and efficiency of the production process gets reduced. Variabilities in production and distribution systems are those unexpected occurrences that upset or alter pre-planned
2 pages (500 words) Essay
Critical Assessment
I see it as a morally wrong human violation of the natural world. The latter objection is unwarranted because we have been making use of technology to change our environment for decades, but there are great risks at stake. McClellan, Keith & Apt (2012)
2 pages (500 words) Essay
MEASUREMENT+ASSESSMENT IN TEACHING REQUIRED |By MILLER
Some of the aspects considered in examining cases include the level of difficulty of the questions, the selected context in the examination, clarity of instructions and questions and other aspects that ensure there is consistency in different
5 pages (1250 words) Essay
Just in Time (JIT)
The study has shown that the strategy has been successful in Japan. The study has also shown that various fundamental techniques like
10 pages (2500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation