The document discusses Just-In-Time (JIT), an inventory strategy developed in Japan after World War II. JIT aims to increase efficiency and reduce costs by receiving goods only as needed in the production process, keeping stock levels minimal. Toyota was the first to successfully implement JIT in the 1970s. The key aspects of JIT are receiving stocks just before production and maintaining close supplier relationships, with no production occurring without a customer order. Major benefits of JIT include reduced costs from less tied-up capital and storage space.

1. JUST IN TIME
SUBMITTED BY
KARTHIK.P

3.  Founded by
 Taichi ohno
FOUNDER

4. What does 'Just In
Time - JIT' mean

5.  Just in time (JIT) is an inventory strategy
companies employ
 to increase efficiency and
 decrease waste by receiving goods only as
they are needed in the production process,
thereby reducing inventory costs.

8.  Evolved in Japan after World War II, as a result of
their diminishing market share in the auto industry..
 Toyota Motor Company- first to implement fully
functioning and successful JIT system ,in 1970’s
ORGIN OF JIT

9.  Involves keeping stock levels to a minimum
 Stocks arrived just in time to be used in production
 Works best where there is a close relation ship
between Manufacturer &suppliers.
 Goods not produced unless firm has an order from its
Customer.
 Aims to get highest volume of output at the lowest
unit cost
FUNCTIONING OF JIT

10.  A method of production control
 No Demand – No Production
 Finished goods assembled just in time to be sold to
customer
 Component parts assembled just in time to be sold to
customer
 Materials purchased just in time to make component
parts
FUNCTIONING OF JIT

11.  To reduce all non-value added activities.
 Elimination of In-Plant Inventory
 Elimination of In- Transit Inventory
 Quality & Reliability Improvement
OBJECGTIVE OF JIM

12. Kanban (かんば
ん?) (literally signboard or billboard in Japanese) is a
scheduling system for lean and just-in-time(JIT)
production.[2] Kanban is a system to control
the logistical chain from a production point of view, and
is aninventory control system.

13.  TOYOTA
 JOHN DEERE
 HP
 GM
 DELL
COMPANIES ADOPTED JIT

14.  Capital not tied up in stocks.
 Less space required for stocks.
 Closer relationships with suppliers
 Reduce Deterioration
 Less vulnerability to fashion & technology changes
 Reduction in stockholding costs
 Increase in cash flow
ADVANTAGES

15.  Danger of disrupted production due to non arrival of
supplies
 Danger of lost sales
 High dependence on suppliers
 Less time for quality control on arrival of large
materials
 May lose bulk buying discounts
DIS ADVANTAGE

16. Easy to understand
*We order a pizza in pizza hut
after the order of ours they start
the making or production of pizza
.
*After the finishing process of
pizza they deliver us and ask
money for consumed goods
*They not proceed their process
of making pizza until our order