Just in time is a concept of zero wastage production in project management that was first introduced in United States by Ford motor company that lays emphasis on reducing the carrying cost of inventory in order to get maximum profit by reducing wastage.
Basically, Just-In-Time Manufacturing (JIT) production system demand-pull production strategy instead of the traditional production-push production strategy and thus gives more importance on the production of only required amount of goods on demand and thus avoids stock. Thus, in Just in time concept the quantity and time is given more importance.
That means the amount of stock levels of raw materials, components, work in progress and finished goods are kept minimum in order to avoid over stock. To maintain this an effective plan of schedule and flow of resources through the production process is required that can be attained with the use of various sophisticated production scheduling software that can provide the needed information of plan production for each period of time including ordering the correct stock. In addition to that, continuous exchange of information between the supplier and the customers takes place with the help of EDI (Electronic Data Interchange) ensuring the correct exchange of details.
The most common practices deployed for carrying just in time (JIT) production are Kanban, continuous improvement and total quality management (TQM).
Moreover, Just-in-time production system is more dependent upon proper planning of procurement policies and the manufacturing process for the success of the project.
Advantages Just-In-Time Systems
Just-in-Time production system has many advantages due to which most of the manufacturing units are adopting JIT these days. Some of the major advantages of adopting Systems are:
Disadvantages of Advantages Just-In-Time Systems:
Precautions of Advantages Just-In-Time Systems: