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What are the key features of Just in Time systems?

Costing Economics
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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/05/02
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Hemang Patel
by Hemang Patel , accountant , Divine galaxy

Most important features of JUST IN TIME system includes:

 

  • Continuous improvement – Quality, Quantity & Cost
  • Elimination of waste
  • Reduction in Inventory levels – WIP, FTRM, FG, CACH etc.
  • Set-up time reduction - increases flexibility and allows smaller batches
  • Levelled / mixed production - to smooth the flow of products through the factory
  • Good housekeeping - workplace cleanliness and organization

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