Essay, Finance and Accounting

In formulating your Key Concept Exercise, consider the following questions:
What are the benefits of just-in-time (JIT) techniques?
What types of organizations use JIT techniques?
Should things change if they are running smoothly?
In an approximately 500-word response, address the following issues/questions:
Things that are running smoothly should not be subject to any control. If you commit yourself to just finding and fixing problems, you\’ll be able to carry out effective control (within an organization) with fewer personnel (Minoura, 2003).
Discuss what the above statement means and whether you agree with it. Describe how an organization that you have experience of, or have researched, has benefited from just-in-time (JIT) techniques and with special reference to inventory control. Also discuss whether the potential benefits and drawbacks of such JIT techniques are limited to large manufacturing businesses or whether they have wider applications for other organisations.
Base your answer on research, your readings and your own experiences. Please cite all references.
Reference: Minoura, T. (2003) The Toyota production system. Available from: (Accessed: 22nd July 2015).

Use journal articles as references.

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