According to Vector Consulting Group, JIT is a pull-based inventory movement method known for significantly reducing inventory costs, enhancing efficiency, lowering waste, and improving responsiveness. Without a pull system for inventory which is in sync with the market, smaller players (tier 2/3) in the auto supply chain often face the bullwhip effect which reflects in sudden shifts in orders and bloated inventory, leading to potential disruptions in operations and financial strain.
After Toyota pioneered JIT in the 1970s, the company’s resounding success inspired widespread adoption and adaptation of JIT among other automakers worldwide. The India auto industry too created auto hubs to bring suppliers closer, streamline logistics, and foster collaboration. Therefore, this industry (compared to others) is best geared to fully implement JIT (including Kanban and Heijunka) in the end to end supply chain.
Denne historien er fra April 21, 2024-utgaven av The Business Guardian.
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Denne historien er fra April 21, 2024-utgaven av The Business Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Odisha startup launches autonomous drone service
Bon V Aero has launched a fully autonomous logistics drone service called Air Orca.
ITI Ltd gets orders worth Rs 4,559 cr
With this, ITI Limited has emerged as the lowest bidder for three packages taking the total order value to Rs 4,559 crores, the company informed stock exchanges in a filing on Sunday.
Trump presidency set to benefit India due to US-China rivalry: Moody's Ratings
Trump's trade policy approach would likely bring immediate impacts to the manufacturing sector, the Moody's Ratings said, adding that although a divided Congress might slow down or adjust the scope of such measures.
EPFO clears audit Backlog, pushes reforms ahead of 72nd Foundation Day
Labour Secretary and Chairperson of Executive Committee, Central Board, Employees' Provident Fund Organization (EPFO), Sumita Dawra, presided over the 109th Meeting of the Executive Committee this week in the national capital.
Biz as usual in Canada despite tensions between New Delhi, Ottawa: SBI
State Bank of India (SBI) has not seen any impact in Canada despite the ongoing tensions between New Delhi and Ottawa, a top bank official has said.
FMCG brands drive premiumisation amid inflation
Despite persistent inflation and sluggish demand, several leading FMCG and retail brands are doubling down on their premiumization strategies, reshaping their approach to appeal to discerning customers.
Supreme Court Issued Notice To Delhi Tree Authority And Officers: What Procedure Followed In Tree Felling?
The Supreme Court in the case MC Mehta versus The Union Of India And Ors observed and has issued notice to the Tree Authority and the Tree Officers who are being appointed under the Delhi Preservation of Trees Act, 1994, in a petition filed seeking to prevent the Delhi government in order to permit tree felling under the Act without prior permission from the court.
SC: LIS PENDENS DOCTRINE KICKS IN WHEN PETITION IS FILED AND NOT WHEN COURT ISSUED NOTICE; IT APPLIES EVEN IF PETITION WAS IN DEFECT
The bench comprising of Chief Justice of India DY Chandrachud, Justice JB Pardiwala and Justice Manoj Misra was hearing the present matter.
Delhi High Court: Cannot Approve MCD Not Paying Wages, Retiral Benefits To Its Employees; If They Default Must Suffer Interest
The Delhi High Court in the case Municipal Corporation of Delhi Versus Bijender Singh observed and has stated that it can never be an approver to the Municipal Corporation of Delhi, MCD for not paying wages or retiral benefits to its employees.
Delhi High Court To Centre: Take Policy Decision On Guidelines For Foreigners With Criminal Cases And Expired Indian Visas
The Delhi High Court in the case Court On Its Own Motion v State observed and has asked the Union Government to take a policy decision as to whether certain guidelines ought to be framed at national level in respect of foreigners against whom criminal cases are lodged and whose Indian visas have expired.
