Quality Improvement and Inventory Cost Reduced By Implementation of JIT
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2016, Vol 4, Issue 7
Abstract
In today’s highly competitive work environment, companies have to find ways to be able to compete effectively with their competitors. JIT production system identifies the hidden problems in the value chain and reduces the production waste of the system while increasing the throughout (Sales-Raw Material Cost). They have to find ways to reduce cost, improve quality, and increase customer satisfaction. Just-In-Time production system is among the tools that companies can use to become competitive. The implementation of Just-In-Time manufacturing system will provide companies with competitive advantage; however the system requires companies to change radically. Cost accounting is among the areas that are affected by the implementation of Just-in-Time production system. The aim of this paper is to discuss the effects of Just-in-Time production system from cost and management accounting perspective. This article discusses in depth the implementation of JIT manufacturing. The objectives are twofold. The first objective is to acquaint the reader with the overall JIT concept and the factors necessary for its implementation; the concepts presented here represent the ideal principles and methods of implementation.
Authors and Affiliations
Ram Rohilla, Ashwani Mor
Keywords
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