Hill and Hill (2011) suggest that Just in Time (JIT) is a manufacturing philosophy that focuses on relentlessly eliminating waste to improve productivity. This is executed by accurately forecasting demand, and only supplying goods when they are required by the consumer, reducing inventory costs. This theory is applied in many fast food organisations in an attempt to cut waste and maintain low prices.
McDonald’s is one of the world’s major leading food organisations, they pursue the objective to keep prices minimal whilst meeting high customer demand. McDonald’s practises the JIT theory in an attempt to operate on a lean strategy. Serving over 60 million people in more than 100 countries every day, yet despite the forecastable high demand, as part of the JI...
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...eer scale of their supply chain, it is clear that the growth to become a multinational retailer and supply goods on a global scale would have been virtually impossible without supply chain management systems.
In conclusion, the Just in time theory, inventory management and supply chain management systems all work exceptionally well in theory, but when applied in practise no one theory is perfect and all have risks. The overall finding is that all organisations need to manage the production process from start to finish. Ultimately, the efficiency and profitability of an organisation depends on selecting the most appropriate methodology to manage delivery of a quality and successful product or service to the customer. The most successful organisations select the most appropriate operations management technique to secure maximum profitability and customer satisfaction.
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