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Definition of Just in Time and techniques of JIT, Difference between Traditional and JIT purchasing. Your...

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General Management

Definition of Just in Time and techniques of JIT, Differencebetween Traditional and JIT purchasing. Your detailed essay answershould be at least 2 to 3 pages long with suitable examples.

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The justintime JIT is a management strategy that reduces inventory and increases efficiency JIT inventory refers to an inventory management system with the objectives of having inventory readily available to meet demand but not keep excess inventory of stock parts exampleToyota adopted this system for first time as part of Toyota Production System TPS and it has been implemented successfully in various industriesToyota never allows raw materials brought to the production floor until an order is received Thereby no inventory handing cost minimum amount of inventory which means lower costs Without having to worry    See Answer
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