JIT Stock control system
- Created by: sian
- Created on: 07-02-18 09:36
JIT Stock control system |
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EvaluationDefinition - JIT is a stock control system that avoid the use of holding stocks (inventory). Instead stocks are supplied and delivered only when they are needed for production.It is designed to eliminate the costs of holding stock eg storage, maintenance, security (theft) and wastage.It causes a business only to acquire raw materials / components only when they are required.Having access to local and reliable suppliers is essential for JIT as it relies on an efficient stock ordering and delivery agreement. |
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