Just-In-Time Inventory Management Strategy & Lean Manufacturing

April 2005 | David Broyles, Jennifer Beims, James Franko, Michelle Bergman | Kansas State University
Abstract:
Just-in-time is a movement and idea that has gained wide acceptance in the business community over the past decade. As companies became more and more competitive and the pressures from Japans continuous improvement culture, other firms were forced to find innovative ways to cut costs and compete. The idea behind JIT, or lean manufacturing, is to have the supplies a firm needs at the exact moment that they are needed. In order to accomplish this goal a firm must constantly be seeking ways to reduce waste and enhance value.