Master of Business Administration - MBA Semester IIMB0044
Production & Operations Management - 4 Credits(Book ID: B1133) Assignment Set- 1 (60 Marks)Note: Each Question carries 10 marks. Answer all the questions.Q1. Explain in brief the origins of Just In Time. Explain how JIT is implemented.
Time (JIT) manufacturing is a process by which companies don’t keep lots of excess
inventory; instead, they manufacture a product as an order comes in. It is a management philosophy of continuous and forced problem solving.The objective of JIT manufacturing system is to:
· Eliminate waste that is, minimise the amount of equipment, materials, parts, space, and worker’s
time, which adds a great value to the product
· Increase productivity
JIT means making what the market demands when it is in need. It is the most popular systems that incorporate the generic elements of lean systems. Lean production supplies customers with exactlywhat the customer wants, when the customer wants, without waste, through continuousimprovement.Deploying JIT results in decrease of inventories and increases the overall efficiencies. Decreasinginventory allows reducing wastes which in turn results in saving lots of money. There are manyadvantages of JIT. JIT:· Increases the work productivity· Reduces operating costs· Improves performance and throughput · Improves quality· Improves deliveries· Increases flexibility and innovativenessFor industrial organisations to remain competitive, cost efficiencies have become compulsory. JIThelps in this process. It is extended to the shop floor and also the inventory systems of the vendors.JIT has been extended to mean continuous improvement. These principles are being applied to thefields of Engineering, Purchasing, Accounting, and Data processing.However, for organisations to completely implement JIT manufacturing system, they need to have aproper commitment along with the following basic facilities - proper material, quality, equipment,and people involvement.
Characteristics of JIT