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VAISHALI (04220601715)
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WHAT IS JIT?
It is an inventory strategy companies employ to increase
efficiency and decrease waste by receiving goods only as
they are needed in the production process, thereby reducing
inventory costs. This method requires producers to forecast
demand accurately.
JIT is a management philosophy that eliminates sources of
manufacturing waste by producing the right part in right place at
right time.
It is also called Lean manufacturing and Toyota production
system(TPS).
HISTORY
Taiichi Ohno a Japanese engineer developed this
system
He is considered to be the father of the Toyota
Production System, which became Lean
Manufacturing in the U.S. He devised the seven wastes
(or muda in Japanese) as part of this system. He wrote
several books about the system, including Toyota
Production System: Beyond Large-Scale Production.
ELEMENTS OF JIT SYSTEM