Just in case and Just in time: Difference between pages

Revision as of 13:49, 22 August 2013

(JIT).

Just-in-time stock management has the aim of eliminating, as far as possible all stocks.

It does this by ensuring that nothing is bought, made or processed at any stage in the production line before it is needed.

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-(JIC).
+(JIT).
-Just-in-case stock management is a modified version of Just-in-time stock management.
+Just-in-time stock management has the aim of eliminating, as far as possible all stocks.
-Where Just-in-time would result in a zero or negligible stock holding level, a Just-in-case approach adds an appropriate additional safety holding, to protect against a supplier's potential (unexpected) inability to deliver stock as required.
+It does this by ensuring that nothing is bought, made or processed at any stage in the production line before it is needed.
 == See also ==
+* [[Economic order quantity]]
 * [[Inventory management]]
-* [[Just in time]]
+* [[Just in case]]
+* [[Stock]]
-[[Category:The_business_context]]
-[[Category:Manage_risks]]