Q3 Define kaizen & just in time management ?

Question

Accepted Answer

Kaizen is a continuous improvement philosophy, while just-in-time management focuses on minimizing waste and maximizing efficiency.

Kaizen is a Japanese term meaning 'change for the better' and refers to the practice of continuous improvement in all aspects of an organization.
It involves making small, incremental changes to processes, systems, and behaviors to achieve better results over time.
Kaizen emphasizes employee involvement, teamwork, and a culture of continuous learning and improvement.
Just-in-time management, on the other hand, is a production strategy that aims to minimize inventory and eliminate waste by delivering products or materials just when they are needed.
It focuses on reducing lead times, improving efficiency, and increasing flexibility in response to customer demand.
By implementing just-in-time management, companies can reduce inventory costs, improve cash flow, and enhance overall productivity.
For example, a manufacturing company may adopt kaizen principles to continuously improve its production processes, while also implementing just-in-time management to ensure that materials are delivered to the production line exactly when they are needed.
This combination can lead to significant cost savings, improved quality, and increased customer satisfaction.

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