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Acc105 Chapter 10 - Just-In-Time The chapter mentions the Just-In-Time (JIT) Processing. Post two important facts...

Acc105

Chapter 10 - Just-In-Time

The chapter mentions the Just-In-Time (JIT) Processing.

Post two important facts about Just-In-Time - i.e. - When was it invented? Who st

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Just-in-time inventory is an Japanese processing system and was invented by Taiichi Ohno. It was first used by Toyota manufacturing plants (A leading car manufactured) since early 1970s.

JIT production systems minimizes inventory and increases efficiencies as orders are placed only when the materials are required for processing. It cuts inventory costs because manufacturers do not have to pay holding costs and any avoids any loss due to storage damage.

Its avoids manufactured with any unwanted inventory, if there is any cancellation or rescheduling of orders.

  

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