JIT OT Flashcards
1
Q
Benefit of low inventory?
A
Saving on holding costs
2
Q
Why do we have inventory?
A
To store raw materials, work in progress and finished goods
3
Q
Reasons to avoid delays in production?
A
Suppliers may be alte delivery material
Poor quality material
Damaged by workers
4
Q
What is work in progress?
A
How long it takes to produce an item
5
Q
What is finished goods?
A
The ability to supply customers
6
Q
Common theme of raw materials, work-in-progress, finished goods?
A
All inefficient, thereby JIT comes into play
7
Q
How to achieve JIT?
A
Fast delivery from suppliers
Good quality from suppliers
Penalty to bad behaviour for suppliers
Better and faster working, better meeting of demand
