Lean Managment Flashcards
1
Q
What is lean management
A
Is based upon doing more with less
Reduces waste
2
Q
What is JIT
A
Just in time / components are delivered just in time as they are required
3
Q
Advantages of JIT
A
- Improved cash flow - money is not caught in stock
- Less risk of wastage
- More production space
- Better relationship with suppliers
- Improved staff motivation
4
Q
Disadvantages of JIT
A
- Very dependant on suppliers
- Increase admin charge
- May lose discounts from buying stock in bulk
- Breakdowns cause major issues
- Less responsive to market changes
