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To What Extent Could It Be Said That Location Decisions Are Especially Important For Firms Operating On A Just-In-Time Basis?
Member rating: No Rating | Words: | Submitted: Fri Jan 09 2004
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To What Extent Could It Be Said That Location Decisions Are Especially Important For Firms Operating On A Just-In-Time Basis? Just-In-Time production is a system which is sensitive to customer demand and involves keeping stock to a minimum. A great deal of working capital can be tied up in stock. Having raw materials delivered to the workplace 'just in time' allowed them to be used immediately and therefore reduces the need for high levels of working capital and can improve the financial performance of a firm. In order to function efficiently, a just-in-time system requires high levels of managerial and organisational skills and reliable suppliers. Location decisions depend on various factors, some of which can also have an effect on a just-in-time business. The location's proximity to the required raw materials is one such factor. In most cases, a firm using a just-in-time system will be a bulk reducing...
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