Essentials of Just In Time Inventory Management By: Breanna Huff www.TekoaERP.com Many companies deal with inventory every day, especially when you are dealing with manufacturing companies. Inventory can be the mostly costly area for businesses when managed poorly. Businesses thrive by finding the areas to increase quality, improve efficiency, and reduce costs. Within manufacturing you have all your raw materials and you have to record all direct materials going into your manufactured products. Therefore one system created to improve quality, efficiency, and reduce costs was just in time theory. Just in Time Theory Just in time inventory is a process created to manage and increase efficiency within manufacturing companies. It is the process created to answer the long time issue of inventory management within companies. "Just-in-Time inventory system focus is having 'the right material, at the right time, at the right place, and in the exact amount' Ryan...
Accounting Software and ERP Systems