A Guide to 'Just-in-Time' (JIT) Inventory Management
Generate an advanced operations guide explaining the JIT inventory strategy, its benefits, and its risks.
Prompt:
609 characters
Generate a full detail guide on 'Just-in-Time' (JIT) inventory management. The guide should be for businesses with physical products. It must include detailed sections on: 1. A clear definition of JIT and its core principle of waste reduction. 2. The significant benefits of JIT, such as reduced holding costs. 3. A deep dive into the significant risks of JIT, especially supply chain disruptions. 4. A checklist to determine if JIT is a viable strategy for your specific business. 5. A guide to the technology needed to implement JIT successfully. Please include a strong disclaimer about the risks involved.