Describe the advantages of using a just-in-time inventory system
What will be an ideal response?
Just-in-time inventory (JIT) system is an advanced manufacturing technique for managing the flow of inputs into the organization is the just-in-time inventory system. Developed from the Japanese kanban system (a kanban is a card), a just-in-time inventory (JIT) system requires inputs and components needed for production to be delivered to the conversion process just as they are needed, neither earlier nor later, so input inventories can be kept to a minimum.
A JIT system increases task interdependence between stages in the production chain. Traditional mass production draws a boundary between the conversion stage and the input and output stages and sequences conversion activities only. JIT systems break down these barriers and make the whole value-creation process a single chain of sequential activities. Because organizational activities become a continuous process, technical complexity increases, in turn increasing the efficiency of the system.
JIT systems bring flexibility to manufacturing. The ability to order components as they are needed allows an organization to widen the range of products it makes and to customize products.
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