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Based on you last work, the Just in Time Toyota paper.I have a presentation to do, it need me do the powerpoint for presentation.Please do 3-4 pages powerpoint based on the paper and speech draft (like 1-2 pages)based on the powerpoint.For the powerpoint, you can do worker thoughts one slide, value chain one slide and so on. I think I have 3 parts.You don’t need introduce the background of the companyJust begin with the worker thoughtsPlease make sure the speech draft is not too literal( written form) just like the oral sentences.Do not use any formula for the speech draft.Thank you so much.
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Worker thoughts
The main aim of the just-in-time inventory management system was to reduce
wastage through enhanced efficiency. This is achieved through employee participation
since they are crucial in improving productivity. In the just-in-time inventory
management technique adopted by Toyota, a worker picks the quantity of material need
for production from the inventory storage, and then the total material taken would be
replenished thus saving on costs associated with holding costs for the additional
inventory. As such, workers can work efficiently by reducing overhead expenditures
while ensuring that materials are always available. Employees adopted this inventory
management system in their quest for continuous improvement. Workers are required to
follow a particular set of principles which are aimed at enhancing efficiency based on the
quality of products and the customers’ needs. Employees are at the center stage of the
just-in-time inventory management strategy since they are central in discovering
problems in production and solving them appropriately (Chakrabarty & Wang 2016). The
actual number of orders and demand for products signals workers when the product under
demand needs to be manufactured. This demand-pull production strategy allows
employees to maximize their productivity since they produce only what is required in the
correct time and quantity. The just-in-time inventory management technique enables the
company to maximize its return on investment. The successful adoption of this strategy
allows Toyota workers to improve the quality of vehicles produced while at the same
time ensuring timeliness in production and delivery of vehicles to the end customer.
Inventory Levels
Due to the nature of the products manufactured by Toyota, its manufacturing
plants have limited space to hold all the materials required for the production process.
This is where the just-in-time inventory management system comes in as the company
aims at minimizing overhead holding expenses for raw materials. In the just-in-time
inventory management system, Toyota produces enough cars to meet the demand for the
product in the market. Toyota makes vehicles based on the nature of demand in the
market. Through careful planning, Toyota can identify and eliminate all wastes and
inefficiencies that prevent optimum productivity in the company. The company utilizes
the available inventory to its maximum potential for improved efficiency. The level of
stock maintained by the company is only sufficient to cater for the demand, which is used
to determine the production. This means that the company saves on the costs associated
with storing the raw materials, which translates to increased profitability and continuous
improvement for the company. Through this level of inventory, Toyota can eliminate
wastage of raw materials (Musara-Mazanai 2012). Toyota is also able to reduce
transportation costs and lead times associated with the unavailability of raw materials.
Just-in-time inventory management strategy enables Toyota to effectively manage
inventory and storage of raw materials, which is an expensive element for the company.
This inventory technique is effective in reducing the need for warehouse storage space,
thus reducing the associated expenses. This also allows the company to improve its
operational efficiency. Toyota acquires raw materials that are needed expressly for
production when the demand arises. As such, rather than having large volumes of raw
materials in the warehouse, Toyota places small and more frequent orders from their
suppliers to ensure they have enough materials to satisfy the current demand.
Value Chain
Toyota adopted the just-in-time inventory management system to maximize their
production while at the same time minimizing their maintenance costs for managing
inventory during production. This technique reduces costs by reducing the number of
goods held as stock for production purposes. This is vital in the value chain since Toyota
is in a position to produce and deliver its finished products in time to meet demand from
customers. This inventory management technique also aids in the value chain process
since it enables Toyota to assemble the partly finished goods into finished products
according to the needs and wants of the customers. Due to the policies governing the just-
in-time inventory management technique, production is made for specific customer
orders to maximize customization based on the needs in the market, which guarantees
customer satisfaction. The output thus starts immediately, an order is placed by delivering
the exact amount of raw materials required for production. This aids in minimizing losses
and ensuring expected delivery of materials for production purposes. The success in
utilizing this inventory management technique is entirely dependent on the proper
planning to ensure materials are delivered on time and as needed (Parveen & Rao 2008).
This strategy is crucial in the value chain since it eliminates the storage of materials that
are usually associated with clutter, which prevents the efficient flow of materials to and
from the production line. Due to the elimination of storage need, Toyota is in a position
to increase the speed associated with the production, thus allowing the company to
produce more vehicles using the same resources and the same production time. This is
also significant in reducing the overall production costs, thus resulting from increasing
profits and earnings by the company.
The just-in-time inventory management strategy supports the overall business
plan for Toyota. The motor vehicle industry undergoes rampant changes in design aspects
and quality. These changes need to be incorporated in production to ensure it meets the
needs and wants of customers. Toyota is among the most innovative manufacturers in the
world, a factor which has enabled the company to stand out and remain competitive even
in the wake of enhanced competition. The design of Toyota cars involves the
collaboration of various teams from different parts of the world. This means that different
parts of the vehicle are designed and manufactured in different locations and brought to
Toyota for assembly. It means that there are various assembly and subassembly
requirements before the production of Toyota vehicles. As such, the most appropriate
technique to ensure all parts are available for the production of the final vehicle are
available as and when needed. Just-in-time inventory management strategy aids in the
ultimate value chain process by ensuring the different parts of the Toyota vehicle that are
produced in different locations are delivered on time for the final assembly of the vehicle.
This reduces the time and costs involved in the production while also ensuring that
customers can obtain their vehicles on time. This explains the high levels of loyalty
among Toyota customers since they can receive their vehicles on time according to their
specifications.

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