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Impact of Adopting a JIT Approach on a Business
How does implementing a JIT approach impact a business's operations and efficiency?
Implementing a Just in Time (JIT) approach improves operational efficiency by reducing inventory holding costs, minimizing waste, and enabling faster response to customer demands.
What are the potential cost savings and improved customer satisfaction from JIT implementation?
JIT implementation can result in cost savings by reducing inventory carrying costs, minimizing waste, improving production efficiency, optimizing storage space, and reducing the risk of obsolete inventory. It also enhances customer satisfaction by ensuring timely product availability, reducing lead times, minimizing stockouts, and delivering products with higher quality and freshness.
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