Comparison of conventional and jit wisdom jit, Ask an Expert

Management Studies

Comparison of Conventional and JIT Wisdom

JIT philosophy

Ideal lot size is 1

Balanced production is best

Inventory is wasteful

Eliminate waste

Handle only some

Reduce or eliminate

variability

Conventional wisdom

Large lots are efficient (keep machines working)

Faster production is more efficient - scheduling is

necessary

Inventory is necessary

Waste occurs

Materials handling is necessary

Scheduling is necessary - there is a trade off

between utilisation and performance

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Strategic Management, Management Studies

Category:- Strategic Management
Reference No.:- M9528785

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