CEO of AKS Limited was in a seminar and heard about the JIT approach. She wondered what JIT is and whether it would be a good approach for AKS Limited, based in Fiji. AKS Limited get the supplies from Australia and New Zealand and a couple of other components from India. CEO has approached you, the management accountant for the company, to analyse the benefits of JIT and its usefulness for the company.

 

Required:

Write a report to the CEO of AKS Limited explaining the concept of JIT and whether will it be a good option for the company to adopt the JIT approach.