Just in Time Inventory Management | Inventory Management | CAIE A Level Business 9609

Understand how just-in-time inventory management works, what it needs to succeed, and how to evaluate it for CAIE A Level Business. ▶ Try Alt Academy free: https://trial.altacademy.org/?utm_sou... Part of Operations management for CAIE A Level Business (9609), on inventory management. The lesson starts from the costs of holding too much inventory, explains how JIT solves them, and sets out the conditions and trade-offs examiners expect you to weigh. In this lesson • The costs of holding large inventories: storage, tied-up cash, waste and theft • What just-in-time means: ordering inventory only as it is needed for production • Why JIT suits made-to-order and job production • What JIT needs: reliable suppliers, flexible labour and equipment, accurate sales forecasts and a focus on quality • Advantages: lower storage costs, better liquidity, more space for production • Disadvantages: reliance on suppliers, lost bulk discounts, higher admin costs and delay risk Chapters 0:00 The problem with holding too much inventory 1:50 What just-in-time means 4:15 What JIT needs to work 6:38 Advantages and disadvantages — Alt Academy: courses in all major subjects across A Level, International GCSE and O Level. Try Alt Academy free: https://trial.altacademy.org/?utm_sou... WhatsApp: +92 326 8073736 Instagram:   / altacademyorg   Facebook:   / altacademyorg   #ALevelBusiness #JustInTime #9609