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The management system which produces or acquires materials or products as according to the requirements of the demand is known as Just in Time Inventory which is explained in Just in Time Inventory Assignment Help. In the early 21st century, the approach towards this managing inventory had become increasingly popular because the suppliers and retailers work together and try to control inventory cost while still controlling the customer’s demands. The intension of the Just in Time Inventory is to avoid the situation in which the inventory exceeds the demand and places the increased burden on the business and manages the extra inventory. Usually, the managers using the Just in Time inventory processes uses the materials for production in order to meet the distributors or retailer’s demand but not in excess. The retailers wish to acquire and carry inventory which meets the customer’s demand immediately. Generally the storage of excess inventory and management costs more. Just in Time Inventory Assignment Help give the information that the Just in Time is regarded as an efficient inventory management system. The benefit of the Just in Time Inventory for the customer is that the customer gets the best value for the money. There are many risks related to Just in Time Inventory. One major risk is that, a simple glitch in the supply system causes shortage is the stock.
Advantages and Disadvantages of Just in Time Inventory Assignment Help
Some of the advantages of the Just in Time Inventory are given in Just in Time Inventory Assignment Help
1. Customer Needs- The main advantage of Just in Time is that it balances the goals of the avoiding stock outs while minimizing inventory costs. It can also respond quickly to the reduced inventory levels which is one of the main benefits of automated and efficient inventory replenishment system.
2. Inventory Costs- Here, the cost of inventory management which when reduced to the amount of holding space and staff required with Just in Time, the company then invests the saving in the growth of the company and other opportunities and points out the accounting of the management site.
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Some of the disadvantages of the Just in Time Inventory are given in Just in Time Inventory Assignment Help
1. Co-ordination- Just in Time Inventory requires the proper and significant co-ordination between the suppliers and the retailers in the distribution channel which is one of the disadvantages of the Just in Time Inventory. The retailers trust the suppliers by syncing the computer system with the suppliers in order to monitor the inventory levels directly at the stores for which they require costly technological infrastructure.
2. Risks- Just in Time Inventory also involve certain risks. If there is a failure in adjusting to increased demands by the company buyers or if there are distribution problems by the suppliers, the business risks upsetting the customers with stock outs.
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