Examples of Just in Time in the following topics:
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- Just in time (JIT) is a production strategy that strives to reduce in-process inventory and carrying costs in a manufacturing system.
- Just in time (JIT) is a production strategy striving to improve a business return on investment by reducing in-process inventory and associated carrying costs.
- Just-in-time operation can leave suppliers and downstream consumers open to supply shocks and large supply or demand changes.
- In addition, very low stock levels means shipments of the same part can come in several times per day.
- Discuss the benefits and disadvantages of using a Just-In-Time (JIT) inventory system
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- Raw materials: Materials and components scheduled for use in making a product.
- These items are not yet completed but either just being fabricated or waiting in a queue for further processing or in a buffer storage.
- The term is used in production and supply chain management.
- Optimal production management aims to minimize work in process.
- Just-in-time (acronym: JIT) production is a concept to reduce work in process with respect to a continuous configuration of product.
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- The number of periods corresponds to the number of times the interest is accrued.
- In , nrepresents the number of periods.
- A period is just a general term for a length of time.
- The number of periods corresponds to the number of times the interest is accrued.
- In compound interest, the interest in one period is also paid on all interest accrued in previous periods.
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- Although the cash flow statement is a very useful tool, it has its own limitations which must be kept in mind at the time of its use.
- Although the cashflow statement is a very useful tool of financial analysis, it has its own limitations which must be kept in mind at the time of its use .
- Cash flow statements, just like Income Statements and Balance Sheets, are prepared using past information.
- The balance sheet is a snapshot of a firm's financial resources and obligations at a single point in time, and the income statement summarizes a firm's financial transactions over an interval of time.
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- There are many different types of finance, but all are fundamentally concerned with studying how best to allocate assets in different conditions over time.
- Time value of money: For a number of reasons, money today is worth more than the same amount of money in the future.
- We will explore this concept in greater depth later on.
- There is a risk that the person will just take the money and run, the debtor will file for bankruptcy, or, for dozens of other reasons, the bank will not get the money they lent back.
- Finance says, "Since I know assets change value over time, how do I use that to cause my assets to change value in the direction I want?
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- Time value of money is integral in making the best use of a financial player's limited funds.
- A business does not want to know just what an investment is worth todayit wants to know the total value of the investment.
- In option 1, you get $5,000,000 and in option 2 you get $6,000,000.
- Option 2 may seem like the better bet because you get an extra $1,000,000, but the time value of money theory says that since some of the money is paid to you in the future, it is worth less.
- In this formula, your deposit ($100) is PV, i is the interest rate (5% for Bank 1, 6% for Bank 2), t is time (5 years), and FV is the future value.
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- Term structure of interest rates describes how rates change over time.
- Term structure is a phrase used to describe how a given quantity or variable changes with time.
- In the case of bonds, time to maturity, or terms, vary from short-term - usually less than a year - to long-term - 10, 20, 30, 50 years, etc.
- The curve shows the relationship between the interest rate (or cost of borrowing) and the time to maturity - known as the "term" - of the debt for a given borrower in a given currency. ""
- Long-term yields are also higher not just because of the liquidity premium, but also because of the risk premium added by the risk of default from holding a security over the long-term.
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- These items are not yet completed but either just being fabricated or waiting in a queue for further processing or in a buffer storage.
- Time: The time lags present in the supply chain, from supplier to user at every stage, requires that you maintain certain amounts of inventory to use in this lead time.
- However, in practice, inventory is to be maintained for consumption during variations in lead time.
- Lead time itself can be addressed by ordering that many days in advance.
- Economies of scale: Ideal condition of "one unit at a time at a place where a user needs it, when he needs it" principle tends to incur lots of costs in terms of logistics.
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- Subscripts reflect the time with the final time period being T.
- If you receive a payment in the future, then we compute the present value in Equation 5.
- Interest rate, i, as a percentage, and the time indicates the number of years.
- Accordingly, the product of the interest rate and time equals 72 in Equation 7.
- Just divide 72 by 4, and your bank account doubles in 18 years.
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- In the United States, especially in the post-Enron era, there has been substantial concern about the accuracy of financial statements.
- High-profile cases in which management manipulated figures in financial statements to indicate inflated economic performance highlighted the need to review the effectiveness of accounting standards, auditing regulations, and corporate governance principles.
- Another set of limitations of financial statements arises from different ways of accounting for activities across time periods and across companies.
- This can make it difficult to compare a company's finances across time or to compare finances across companies.
- However, other methods such as full cost accounting (FCA) or true cost accounting (TCA) argue that an organization's health cannot just be determined by its economic characteristics.