A number of manufacturers recently have moved to a JIT inventory system. JIT systems have a number

Question:

A number of manufacturers recently have moved to a JIT inventory system. JIT systems have a number of potential benefits but also can have negative consequences for a company whose suppliers are not dependable.

Required:

1. Discuss the reasons a company might implement a JIT system.

2. What are the potential benefits of a JIT system?

3. What are the potential negative consequences of using a JIT system?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial Accounting

ISBN: 978-0078025518

2nd edition

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

See More Books

Question Posted: Jul 17, 2015 02:27 AM

See More Questions

Discuss the reasons why logisticians might be concerned with theft.
JIT purchasing has many benefits but also some risks. Do you agree? Explain briefly.
What are some potential negative individual and organizational consequences for Asian Americans of being perceived as a "model minority"?
The fraud examiner's report should have what characteristics? a. Accuracy and clarity b. Relevant and material information c. Should not contain opinions or prejudices of fraud examiner. d. All of...
Use the file statepop.dat for this problem. a. Plot the total number of veterans versus the probabilities of selection i. Does your plot indicate that unequal-probability sampling will be helpful...
Do firms have any responsibilities to society at large?
What is the probability that a voter chosen at random did not vote for a Democratic representative in the 2008 election? (Source: Federal Election Commission) Using a Frequency Distribution to Find...
IPort Products makes cases for portable music players in two processes, cutting and sewing. The cutting process has a capacity of 100,000 units per year; sewing has a capacity of 120,000 units per...
Can I afford this home? - Part 1 Can Kyoko and Jacques afford this home using the monthly income loan criterion? Next week, your friends Kyoko and Jacques want to apply to the Tenth National Bank for...
What ALR annotation discusses 42 U.S.C.A. 740?
Your co-worker has come to you for help for several things the boss mentioned recently. Specifically, the boss was discussing the company's move to a TQM approach for its manufacturing process and...
In recent years, the managerial concepts of activity-based management (ABM), activity-based costing (ABC), and total quality management (TQM) have received considerable attention from manufacturing...
Write a short essay (500 words) listing the advantages and disadvantages of having the same accounting rules in all countries.
7. Chicago Corp. obtained the following information from the Raw Materials Inventory account and purchasing records for the first quarter of the current year: Beginning Raw Materials Ending Raw...
Suppose that i t =6% (n=1), and that future short term interest rates (n=1) for the next 3 years (starting next year) are expected to be: 4%, 2%, 2%. Suppose that the liquidity premium is zero for...
Mechanical Vibrations HW Use the modal analysis and numerical integration to compute and plot the time response of the system, which has the equations of motion [8 0 01 (1) 48 -12 01(x1 0 0 8 02-12...
Submit excel file with graph and exchange rate analysis. FOREIGN EXCHANGE RATESTHE YEN FOR DOLLARS. The Federal Reserve System Web site, www.federalreserve.gov/releases/H10/hist , provides historical...
Part 1: There are many types of communication styles used in the workplace. Choose what you think is your leadership style: north, south, east, or west. Click The Leadership Compass Self-Assessment...
A scientist wants to determine whether people who live in places with high levels of air pollution get more colds than people in areas with little air pollution. Do you think it is possible to design...
At 31 December 20X9, the end of the annual reporting period, the accounts of Huron Company showed the following: a. Sales revenue for 20X9, $ 2,950,000, of which one- quarter was on credit. b....
The doping concentrations in a silicon pn junction are $N_{d}=5 \times 10^{15} \mathrm{~cm}^{-3}$ and $N_{a}=10^{17} \mathrm{~cm}^{-3}$. The zero-bias junction capacitance is \(C_{j o}=0.60...
The prepaid insurance account had a balance of $4,800 at the beginning of the year. The account was debited for $15,000 for premiums on policies purchased during the year. Journalize the adjusting...
The balance in the unearned fees account, before adjustment at the end of the year, is $45,000 Journalize the adjusting entry required if the amount of unearned fees sat the end of the year is $9,000.
At the end of October, the first month of the business year, the usual adjusting entry transferring rent earned to a revenue account from the unearned rent account was omitted. Indicate which items...
You are evaluating a new project for the firm you work for, a publicly listed firm. The firm typically finances new projects using the same mix of financing as in its capital structure, but this...
state, "The subscription price during a rights offering is normally r; lower ; lower r; higher er; higher than the rights-on price and
Arnold inc. is considering a proposal to manufacture high end protein bars used as food supplements by body builders. The project requires an upfront investment into equipment of $1.4 million. This...

A number of manufacturers recently have moved to a JIT inventory system. JIT systems have a number

Question:

Step by Step Answer:

Inventory strategy corporations employ to upsurge ef...View the full answer

Managerial Accounting

Students also viewed these Managerial Accounting questions