Just In Time

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Just In Time

A supply chain management system designed to reduce carrying costs to a minimum. A firm only orders what it expects for its immediate needs; therefore, it keeps a low inventory. For example, if a retailer believes it will sell 1,000 widgets in a week, it orders precisely 1,000 widgets from its manufacturer. JIT systems require that the retailer at the end of the supply chain can accurately predict demand for its products. They also require that each stage of the supply chain knows exactly how much time it takes to fill an order when it is made. The automotive industry and budget retailers commonly use JIT systems. See also: Lead time, Just in case.
References in periodicals archive ?
This paper found that the cell production system with PFID/ traceability was quite efficient for the assembly lines employing just-in-time manufacturing.
Just-in-time Manufacturing: A practical Approach, Prentice-Hall, Inc., 0-13-514027-7, New Jersey
Optimization and analysis of Mizusumashi systems as just-in-time manufacturing, Annals of DAAAM for 2003 & Proceedings of the 14th International DAAAM Symposium, (Ed.) B.
International sourcing: implications for Just-in-Time manufacturing. Production and Inventory Management Journal 30(3): 66-71.
Expenditures to implement just-in-time manufacturing techniques are also likely deductible as research and experimental expenditures under section 174.
As President of Tax Executives, Institute's I am writing to express the Institute's concern about a recent technical advice memorandum, relating to the adoption of just-in-time manufacturing techniques.(1) TEI believes that the ruling's conclusions are questionable and arise from either a misapprehension of the facts attendant to the adoption of just-in-time manufacturing or a distention of applicable legal principles.
Relying in part on INDOPCO as support for capitalization of heretofore routinely deducted costs, the "just-in-time manufacturing" technical advice memorandum has expanded that controversy into yet another area.
The ruling addresses four types of expenses associated with the implementation of just-in-time manufacturing techniques: the costs of reconfiguring manufacturing equipment; materials and supplies to implement just-in-time manufacturing (consisting principally of signs and other tangible property); workforce training costs; and consulting fees related to training management and the workforce in just-in-time manufacturing techniques.
United States(4) support its conclusion that costs to implement just-in-time manufacturing techniques are capital.
Computer integrated manufacturing (CIM), computerized numerical control (CNC), statistical quality control (SQC), just-in-time manufacturing (JIT), computer aided drafting (CAD), robotics and other new technologies are now common production practices.
With Just-In-Time manufacturing forcing molders into shorter runs with frequent material changes, a debate is growing over whether to use central or portable conveying systems.
Support for repetitive and Just-in-Time manufacturing also has been included in the design.