In Supply Delivery Model what is the meaning of JIT Just In TimeJourney In Time
Question
In Supply Delivery Model what is the meaning of JIT
Just In Time
Journey In Time
Solution
In the Supply Delivery Model, JIT stands for "Just In Time". This is a management strategy that aligns raw-material orders from suppliers directly with production schedules. Companies use this inventory strategy to increase efficiency and decrease waste by receiving goods only as they need them for the production process, which reduces inventory costs. This method requires producers to forecast demand accurately.
On the other hand, "Journey In Time" does not have a specific meaning in the context of the Supply Delivery Model. It seems like a phrase that could be related to the process of tracking the delivery of supplies over time, but it's not a standard term or acronym in supply chain management.
Similar Questions
How can the EPQ model be economically reconciled with just-in-time (JIT) production?
A company that employs a multi-sourcing strategy is most likely to place an order based on quality cost delivery time relationship with the supplier
When UPS uses a stop watch to do a time-motion study of package delivery times, they are applying the principles of management to the workplace.
Distribution Logistics are concerned withQuestion 4Answera.make or buy decisionsb.supplier managementc.orderingd.Delivery of finished goods
It is an accounting of the flow of goods, services and funds in and out of the country during a given period.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.