Question

What is Just-in-time manufacturing?

Answer 1

Just in time manufacturing nothing but a Japanese style inventory management system which is actually in that reducing the production and the selling time between so as to maintain a minimal inventory on the whole. which is the popular model followed by Toyota which is a Japanese company where the main benefit of this system is the reduction of inventory carrying cost to a very great extent. Here the investment levels are low however they come with some potential risks which involve not meeting the demand for unexpected customer and there is also no chance for renegotiation regarding the deal on the whole because of lack of inventory.