Inventory Management Processes in Transition PLEASE ANSWER IN DETAILS AND DON\'T
ID: 351036 • Letter: I
Question
Inventory Management Processes in Transition
PLEASE ANSWER IN DETAILS AND DON'T COPY THE ALREADY EXISTING ANSWER.
Think about the transition from traditional inventory management methods to a just-in-time process. Using the readings, the presentation and the examples provided at the end of the lecture, how would you go about managing that transition? What contingencies would you plan for? How might you mitigate those contingencies? How would you handle the cultural shift within the operation? Please include references in at least your initial response.
If you have actually encountered this kind of change in your work experience, tell us what happened, what went right and what went wrong. If your company (or your experience) includes just in time inventory, tell us what works and what doesn’t. If you have neither, tell us about a time you wanted a product or service and you were told it was unavailable. What was the solution/mitigation?
Inventory Management Processes in Transition
Think about the transition from traditional inventory management methods to a just-in-time process. Using the readings, the presentation and the examples provided at the end of the lecture, how would you go about managing that transition? What contingencies would you plan for? How might you mitigate those contingencies? How would you handle the cultural shift within the operation? Please include references in at least your initial response.
If you have actually encountered this kind of change in your work experience, tell us what happened, what went right and what went wrong. If your company (or your experience) includes just in time inventory, tell us what works and what doesn’t. If you have neither, tell us about a time you wanted a product or service and you were told it was unavailable. What was the solution/mitigation?
Explanation / Answer
PART A - IMPLEMENTATION , Challenges and Managing cultural change
Just in Time inventory management system is accepted as cost effective and efficient method. But there are certain constraints in its implementaion such as lack of vendor support , lack of employee knowledge and skill and cultural resistance. Therefore to implement this these roadblocks must necessary be removed.
1. Maintaining Strong Vendor Relations
JIT wil only work if your vendors can supply you the inventory as and when you require. For this vendor relations need to be maintained such as by paying on time , being honest and fair and being collaborative. Also dependencies need to be addressed by maintaining more than one vendors for a particular product,
2. Strong Communication Channels
Information must be disseminated clearly to all stakeholders regarding what do you need , when do you need and where do you need. Intra department communication channels must be strengthened and reliance should be placed on clear communications
3. Strong Training and Management
Employee must know what order to be placed , when it is to be placed , how it is to be placed , where it is to be placed and who all need to be contacted. Also system working knowledge and skill enhancement on JIT should be imparted through various training modules
4. Managing cultural change
First of all employees need to be made aware of why JIT system is being used. As everyone hates change so first there is a need to make ground for the employees to understand why they are doing what they are doing. Then by using highly collaborative and participative style of management transition stage need to be managed. After that repeated checks need to be carried out to address any violations and to give a clear message to the employees that JIT is the thing of the future.
PART - B
In a reputed company I have witnessed the process of JIT implementation. There as per production requirement first it was forecasted how much raw material on an average is required per day . Then vendor development in 3 hour vicinity was done so that raw materials could be supplied at short notice. The buffer stock margin of 3 hours of production process was maintained to account for any exigencies.
The result was a success. However there were some challenges that the company had to face . These were majorly linked with no quality supplier in vicinity so an extensive vendor quality improvement program was carried out that took 6 months. and thus the JIT transition was managed
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