Essay - Recently, the Business Strategy Commonly Refereed to as Just-in-time Has...

Recently, the business strategy commonly refereed to as Just-In-Time has become more and ***** dominant in many aspects of bus*****ess. Corporations like Hewlett-Packard have begun to use ***** system to improve efficiency and cus*****mer service. Although the system has been criticized as a lofty idea or a the*****y rather than an attainable business practice, the company that have implemented the idea have profited form it. Moving ideas from boardrooms and ivory towers to ***** sales floors and manufacturing plants can be a tricky task. The growing popularity of Just-In-Time in theory and in ***** demonstrates how these difficulties ***** be overcome when new business ideas are brought to *****ar upon business practice. There are several hindrances ***** the implementation ***** new ideas. The time and money it takes to develop a new idea is certainly one difficulty in implementing new *****.

Another hindrance to implementing new ideas ***** the mentality of old-guard executives in ***** bus*****ess. Lastly, some people are prejudiced about ideas that come from academia, especially ***** the tried and true methods seem to be working. This essay will explore *****se problems in a theoretical and practical *****at using the example of the success of the JIT method.

It is worthwhile to review JIT method before digging in***** ***** literature ***** new ideas. 1000ventures.com def*****es JIT as Just-in-time manufacturing means producing the necessary items in necessary quantities at the ***** time. It ***** a philosophy of continuous improvement in which non0value-adding activities (or wastes) are identified and removed. Putting this concept into practice means a reversal ***** the traditional thinking process. In conventional production processes, units are transported to ***** next ***** stage as soon ***** ***** are ready. ***** *****, each stage is required to go back to the previous stage to pick up the exact number of ***** needed.

***** advantages of JIT include a shortened lead time, reduced ***** spent on non-process work, reduced inventory, better balance between different processes, and problem clarification. According to 1000ventures.com, Hewlett-Packard saw drastic improvements when *****y implemented JIT. The manufacturing time for the assembly of 31 circuit boards was reduced from 15 days ***** 11.3 hours. The ***** caught up in ***** fell from $670,000 to just $20,000.

***** implementation ***** a bus*****ess plan ***** not an easy task. In his article 'What's a business Pl*****?" Tim Barkow writes

In *****, ideas ***** cheap. Every*****'s got one. What counts is execution-***** path ***** realizes an idea's value. And that's where the business pl***** comes in. ***** is, at its core, ***** blueprint for building the business. It should be so detailed ***** prec*****e that if you happened to die, your weird Aunt Mary could take over and still succeed.

Sometimes ***** hard work and cost of implementing ***** business plans can be a major stumbling stone in a paradigm sh*****t. The idea "If it a*****'t broke, don't fix it," can be prohib*****ive in ***** new ideas. If a ***** is do*****g well, and projections for the future are good,