ERP Glossary - J: JIT to Job Shop
JIT (Just In Time)
JIT is a manufacturing strategy which aims at having component inventory arrive only moments before it needs to be consumed. Successful JIT operations have very fast manufacturing flow through, and very low work in process inventories. Process reliability is a must for successful JIT operations.
A cost methodology in which all of the costs associated with a specific project or manufactured product are recorded in a cost ledger over time, and totaled at the end of the project or manufacturing process.
A manufacturing facility which focuses on discrete - often specialized - and relatively small manufacturing runs. Job shops may handle smaller volumes, specialized raw materials or machine processes, or offer additional services that a larger factory might not be able to offer, because of economies of scale.
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