Just In Time Stock Replenishment: Just in Time Stock Replenishment system is all about having the right goods/products at the right time, at the right place, and in the exact amount without the safety net of excessive inventory. This post focuses mainly on What is Just in time Stock replenishment, How does it work?JIT inventory Tactics, implementation of JIT, Flow Manufacturing etc.
Working of Just in Time Stock Replenishment:
- It requires setting up a contract with a logistics provider(JIT) company to store and deliver equipment as and when needed.
- An order will be made via an EDI(Electronic Data Interchange)system direct to the supplier.
- Orders are captured by a bar code reading handheld terminal.
Tactics of Just In Time Stock Replenishment:
- Use a pull system to move inventory
- Reduce lot size
- Reduce setup time
- Develop JIT delivery systems with supplier
- Deliver directly to the point of use
- Reduce set up time
- Use group technology.
You should also know about:
- What is Just In Time Manufacturing?
- What are the 3 layers of Manufacturing Flexibility in FMS?
- How to determine the location of shear center in the sections?
The detailed explanation of Just In Time Stock Replenishment is shown below in the form of a video.
This is the complete explanation of Just In Time Stock Replenishment which is shown in a detailed manner. If you have any doubts, feel free to ask from the comments section. Please Share and Like this blog with the whole world so that it can reach to many.