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Just-in-time production is considered to be on the leading edge of technological advancement With improvements in the virtually every industry maintaining an effective production line while minimizing inventory costs is a very feasible option Just-in-time systems are designed to keep inventory costs at a minimum unlike the ways of old with large warehouses loaded with back inventory With technology allowing instantaneous communication around the world production lines and stores do not have to wait for days for inventory delivery It can happen well just-in-time Many companies are on the verge of switching to a just-in-time inventory system to compliment the millions of companies that have already implemented the system It is generally recognized that effective implementation of just-in-time will result in a significant reduction of inventories As a matter of fact inventory levels are key indicators for measuring just-in-time performance HarrisonThe just-in-time philosophy on inventory management is simple- Strive for a level of zero inventories- Produce items at the rate required by the customer- Eliminate all unnecessary lead times- Reduce setup costs to achieve the smallest economical lot size - ideally a quantity of one- Optimize material flow from suppliers through the production process to the point of sale of the finished product so that inventories are minimized- Ensure high quality and dependable just-in-time delivery from suppliers- Implement a Total Quality Control TQC program which will minimize scrap rework and resultant delays in production NaylorWhile the just-in-time inventory management philosophy is simple execution is notIn a just-in-time environment the supplier should deliver raw materials and other purchased items when they are needed A blanket purchase order or other suitable form of basic agreement should cover the terms and conditions for procurement Delivery of the item should be direct to the point of use in the manufacturing plant It is time consuming and not cost-effective for the materials to be handled in one
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