Just-in-Time (JIT) | Supply Chain Management | From A Business Professor
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- Опубліковано 11 лип 2024
- Inventory management is a crucial part in almost every business. It can make or break the firm’s overall operation. Although stocking up on your products can allow you to meet the demands of your customers anytime they need them, it will also require larger investment, bigger storage space and will run the risk of theft, obsolescence or spoilage that could entail huge costs.
Just-in-time, or JIT, is an inventory management method in which goods are received from suppliers only as they are needed. The main objective of JIT is to reduce inventory-holding costs and increase inventory turnover.
So what is the history of JIT? In the real business world, which companies implement it successfully? What is its benefits and drawbacks? And which types of companies could benefit the most from it? In this video, I will answer these questions for you.
This video was a great way to further understand JIT systems. My dad is a logistics manager for a distribution company and in distribution, JIT systems are utilized most in order to make sure no products get ruined in storage and transportation.
I have learned about JIT inventory before but this video provides great examples that are very relevant to the real world.
JIT systems is something I have not learned much about. I think this is one of the most vital pieces to businesses with goods. It reduces cost and increases turnover, that is HUGE! It was easy to understand JIT because of this video!
This video is super important to watch. It is helpful depending on what area of business you work in. It is broke down so you can really understand and grasp it
I found this video to be extremely fascinating and informative on JIT, how it works, how it is used, and why it is an important topic to discuss. Before this video, I did not know a single thing about this topic but I am glad I was able to learn something about it through this video!
The efficiency and cost-effectiveness of JIT are truly fascinating. The way it minimizes inventory while maximizing production flow offers a fresh perspective on supply chain optimization.
As a business management major, I find this video informative because it goes in detail and give great examples of how JIT was created and how companies follow this in supply chain management.
I always knew about this aspect of business just from work, but I never know it had a name. I enjoyed learning about this in more depth and really getting to understand how it all works. There are both risks and benefits to this as you mentioned.
JIT seems like a great thing to have. This has it where you don't half to overstock. You are able to have things ordered as they are needed and this really does allow more time and abilities to do other things.
This lecture video is great for understanding the JIT systems. It provides a great visual of the pros an cons of the systems and how the are used.
This video helps to explain JIT. I saw this in other classes like operations management. However, the visuals made it easier to understand. This video discusses how JIT is used to reduce large stock piles of inventory, decreasing waste and increasing profits.
Easy to Understand. JIT
Thank you very much for detailing video , Pretty much covered.
This video was interesting to me since it went over the importance of inventory control and how expensive it can become. It is crucial that management understands JIT since it reduces inventory waste, decreases warehouse holding costs, and allows local sourcing. It is also important to understand the risks as there can be unreliable suppliers, costly technology, and unexpected demand surge and natural disasters.
Enjoyed the video, thank you for the concise and clear explanations of the model
i really enjoyed learning about this concept and seeing how my current job practices this type of inventory.
This video was very informative and beneficial. Just-in-tie system is an important part of business and this video provides a really good detailed explanation of it.
I enjoyed this video so much and I think it’s one of my favorite. Supply chain is also very important in the business world because a lot firms see benefit through it.
The just in time system has a very intresting back story that has lead to helping so many businesses! The benefits this system brings doesnt just help the company ustilizing it but also local business / manufacturers.
This video gave me knowledgeable insight on how the just-in-time system works in different business industries. I knew that some companies had to stock up and put out their inventory as needed but I was never sure how that actually worked or what it was called. I really enjoyed learning in this video.
This video was very informative In the understanding of the JIT system which I didn't know before. The video went into detail how it was created and how they follow it.
This video was extremely informative and it helped me understand JIT in more of depth. I was able to grasp a better understanding of topic.
Awesome! Have been helped.
I had never really heard of the Just In Time Systems with that exact name, it is something most business people or employees learn as a system of inventory as a basic in the company. I think it is interesting to learn where it was first developed and implemented, and how it has become a popular inventory system in many different companies.
Just In Time Systems is a new topic that I had never been introduced to that I'm aware of. Though its seems to be a very common system that is used often. I'm glad I had a chance to learn some basics about the system and how it is used today and by who.
JIT is a great way to cut cost. It did fail during covid but it seems like in a normal condition, that it works very well.
Looking at the processes of Walmart I am blown away by the way that they utilize this system to optimize all of their stores and distribution centers. Something in relation to the management of supply chains and anything revolving close to that would be so interesting to work in.
Not sure what your background is because you do have to qualify but one of the colleges (I graduated 3) that I finished was for Lean Six Sigma, and pmi-acp but that was extra and not really needed, that's one of the many jobs we qualify for. If supply chain management is what you want to do that's one of the best ways to do so. Id say at least a Green Belt; I have a Black Belt and contemplating a Masters Belt. Im currently a Director for an IT company but the guy who got me interested was fresh out of college & never had a job but he got a job with Amazon as a manager because of his Bachelor's in Business (which I also have) and his Green Belt in Lean Six Sigma.
That's really helpful. Can you also expain VMI replenishment?
Very good
I was not familiar with the JIT model until this video. I think it is something companies can benefit greatly from, however, I do feel like it can be a risk from following the JIT model based on real world examples that were given in the video.
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Backup plan would be to carry minimum inventory..to meet unexpected surges or exigency