GMS 401 Lecture Notes - Lecture 11: Jelly Bean, Lean Manufacturing, Lead Time
24 Apr 2017
School
Department
Course
Professor
Document Summary
Just-in-time is a highly-coordinated processing system used to produce or deliver goods just as they are needed. A philosophy that believes that unproductive energy/entity is considered waste, and waste should be taken out of the system. Make the product only when there is a need for it. With jit, problems are identified early in the process. Helpful in supporting strategies with rapid response and low cost. Just-in-time partnership is a partnership between the suppliers and purchasers that removes waste and drives down the costs for mutual benefits. High degree of respect by both supplier and purchaser. Organizations viewing suppliers as extensions of their own organization. Concerns of suppliers are to be addressed. Supplier are expected to be fully committed to improvement. Diversification ties to only one customer increases risk suppliers may not want to tie themselves to long-term contracts with only one customer (as risk is reduced with a variety of customers (opposed to one))
