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Business presentation jit

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Just-in-time (JIT) aims to avoid holding buffer stocks by having supplies arrive as needed in production and finished goods delivered to customers as soon as they are completed. JIT requires excellent supplier relationships, multi-skilled and flexible production staff and equipment, accurate demand forecasting, and quality as a priority. The advantages of JIT are reduced inventory costs and stock holding, less outdated stock, and quicker response to demand. However, disruptions to supplies or transportation can delay production, delivery costs increase, and order administration costs may rise.

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Just in time This stock- control method aims to avoid holding stocks, requiring supplies to arrive just as they are needed in production, and completed products are produced.
JIT requieres that no buffer stocks are held Components arrive just as they are needed on the production line Finished goods are delivered to customers as soon as they are completed
Relationships with suppliers have to be excellent Production staff must be multi- skilled and prepared to change jobs at short notice Equipment and machinery must be flexible Accurate demand forecast will make JIT a much more succesful policy The latest IT equipment will allow JIT to be more successful Excellent employee employer relationships are essential for JIT to operate smoothly Quality must be everyones priority
Business presentation jit
JIT ADVANTAGES Capital invested in invetory,cost of storage and stock holding are reduced. Less stock becoming outdated or damaged. Quicker response to consumer demand. The staff is multi-skilled adaptable with more motivation. DISADVANTAGES Failure to receive supplies, transport problems or IT failure can cause production delays. Delivery costs will increase. Order administration costs may rise. Reduction in discounts offered by suppliers. Outside factors affect business reputation.
CONCLUSIONS Requires a different organisational culture. Requieres staff to be accountable for their perfomance. Suppliers need to be reliable. May not be suitable for all firms at all times. Expensive IT system needed. Rising global inflation makes holding stocks of raw materials more beneficial. Higher oil prices will make deliveries of materials and components more expensive.

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Business presentation jit

  • 1. Just in time This stock- control method aims to avoid holding stocks, requiring supplies to arrive just as they are needed in production, and completed products are produced.
  • 2. JIT requieres that no buffer stocks are held Components arrive just as they are needed on the production line Finished goods are delivered to customers as soon as they are completed
  • 3. Relationships with suppliers have to be excellent Production staff must be multi- skilled and prepared to change jobs at short notice Equipment and machinery must be flexible Accurate demand forecast will make JIT a much more succesful policy The latest IT equipment will allow JIT to be more successful Excellent employee employer relationships are essential for JIT to operate smoothly Quality must be everyones priority
  • 5. JIT ADVANTAGES Capital invested in invetory,cost of storage and stock holding are reduced. Less stock becoming outdated or damaged. Quicker response to consumer demand. The staff is multi-skilled adaptable with more motivation. DISADVANTAGES Failure to receive supplies, transport problems or IT failure can cause production delays. Delivery costs will increase. Order administration costs may rise. Reduction in discounts offered by suppliers. Outside factors affect business reputation.
  • 6. CONCLUSIONS Requires a different organisational culture. Requieres staff to be accountable for their perfomance. Suppliers need to be reliable. May not be suitable for all firms at all times. Expensive IT system needed. Rising global inflation makes holding stocks of raw materials more beneficial. Higher oil prices will make deliveries of materials and components more expensive.

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