Abstract
Just-in-Time (JIT) manufacturing has received a great deal of attention worldwide ever since it was introduced in Japan a few decades ago. Its implementation has the ultimate purpose of waste reduction. The main benefits of JIT implementation are the reduction of inventories, lead-time reduction and cost savings. The study explores the impact of JIT manufacturing systems on financial accounting metrics, especially costing. The impact of JIT on a firm's inventory and other areas, such as manufacturing efficiencies with respect to employee performance and other nonfinancial areas, are also discussed, with a special focus on Small and Medium Enterprises (SMEs).
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