e) One of the senior managers of WC has suggested that the company should consider introducing just-in-time (JIT), and you have been asked to advise the top management on the implications of this suggestion. The company has a good reputation for quality and customer service, but in recent years has been struggling to match the levels of quality and service achieved by its competitors on a regular basis. One of your key tasks in the immediate future is to achieve the changes which will be necessary to improve the company's competitive position.

You are required to describe two key elements of the just-in-time philosophy and differentiate between just-in-time purchasing and just-in-time production. (4 marks)