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Managers using JIT access material and parts orders more often and in less quantities, thereby reducing investment in both storage space and physical inventory.

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JIT method requires a high degree of coordination and cooperation between the company and its suppliers

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The JIT system reduces the organization’s investment in storage space for raw materials and in the materials themselves

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The just-in-time (JIT) method

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The four basic kinds of inventories are raw materials, work-in-process, finished-goods, and in-transit inventories

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Inventory control, also called materials control,
is essential for effective operations management

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This arrangement benefits both parties by providing a stable sales base for the business owner and a local and reliable supplier for Honda.

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The business owner delivers finished goods to the plant three times a day, and Honda purchases all the goods produced.

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Many companies have reduced their supplier count and established special production-delivery arrangements.

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Companies have changed their purchasing approaches to lower costs and improve quality and productivity.

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The purchasing manager must balance various constraints, such as capital utilization, storage costs, avoiding shortages, and negotiating favorable terms with suppliers.

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Large companies like GE, IBM, and Siemens have significant purchasing departments.

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The purchasing manager of a retailer is responsible for buying the merchandise the store will sell, while the purchasing manager of a manufacturer buys raw materials, parts, and machines.

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Different control systems should focus on the most important factors to achieve the main objectives

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use as a control tool for distribution with other functions

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Purchasing is a crucial aspect of effective supply chain management.

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Purchasing management, also called procurement, involves acquiring materials and resources for creating products and services.

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IMPLEMENTING OPERATIONS SYSTEMS THROUGH SUPPLY CHAIN MANAGEMENT

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IMPLEMENTING OPERATIONS SYSTEMS THROUGH SUPPLY CHAIN MANAGEMENT