The Many Benefits of Just in Time Inventory

Today’s manufacturing is touted for its innovation, efficiency, and adherence to quality. It is this emphasis on these values that has helped American manufacturing not only recover, but prove to be a competitive global force to be reckoned with.
 
One of the most effective business philosophies most successful manufacturers have relied on is Just-in-Time (JIT) inventory. When employed by manufacturers and relied upon by procurement professionals, JIT inventory means reduced costs, increased customer service, and unparalleled quality. So what exactly is Just in Time? At its most basic, JIT inventory is exactly as the name implies; goods are made available to clients just as they need them. The supplier keeps the exact right amount of products on hand—without excess—and keeps them readily available. This management system ensures enough
is kept in stock, but never too much, and demand is always met. Some of the many benefits of a JIT strategy include:
 
Meeting Procurement Professionals’ Needs: Through a highly organized and well honed system, customers are able to receive what they need when they need it. Due to the level of inventory knowledge and understanding, the company is able to always have ready what their client requires. Companies who are experienced in the strategy are able to add to some product categories while diminishing others as necessary.
 
Reduced Costs: JIT inventory means reduced waste. This keeps inventory costs down and storage space open, creating a well-balanced, efficient management system through which investments are always smart. The company saves significant money in the process, which is directly passed down to the customer.
 
Continuous Improvement: When a business knows the ins and outs of their inventory and their customers’ needs, they are able to meet demands, quickly solve problems, and make continuous improvement a natural occurrence. This, too, translates to higher quality and more cost savings.
 
Increased Return on Investment (ROI): Because only the essential products are stocked, out of date products and waste are eliminated, and stock holding costs are at a minimum. This all makes for greater ROI—another factor that translates to customer savings.
 
What does it take to truly be successful in business these days, consistently delivering high quality at lower costs to clients? It takes lean, effective, reliable strategies based on efficiency, cost-effectiveness, and proven results. When procurement professionals work with a company that’s truly experienced in the JIT method, they’re getting all of this—and the assurance that they’re working with a company who can meet their demands without exception.
 
Contact us to learn more about how Keats Manufacturing can support your Just in Time strategy.

Keats and Customer Service

Being committed to customers is something that every business, from big box retail to local coffee plants, touts as their highest priority.  It’s no secret that customer service has become of utmost importance for business success, especially as the internet is increasingly empowering customers with reviewing platforms like Yelp, Angie’s list, or Merchant Circle.  One major way that customer service can be seen in the manufacturing industry is the concept of Just-In-Time delivery. 

Just-In-Time is a business philosophy, the inception of which is largely attributed to the Japanese auto maker Toyota, and is a primary practice associated with lean manufacturing.  Just-In-Time is a logistics technique that aims to control inventory in such a way that reduces or eliminates the warehousing of unnecessary product, but maintains an accurate and predictive schedule of supply so that the proper amount of product reaches the proper place “just in time”.  This streamlining of inventory can reduce lead times, cut down on expensive warehousing needs, and limit overproduction and overstocking, so that many businesses are protected.  What is required for an effective system, however, is a vendor that has the utmost concern for quality control, and the means to deliver the product on the precise schedule determined by the data collected.
 
In both of these, Keats can be seen to have a strong and ongoing commitment.  Originally opened as a storefront plant in northwest Chicago, our dedication to provide our customers the best quality products on the best schedule has necessitated lots of expansion, and the opening of not just one, but two new locations.  Keats Southwest and Keats Coastal Stamping serve not only as indicators of our expanding business, but also as brick-and-mortar monuments to our dedication to exceptional service.  Our ISO 9001:2008 and 16949:2009 certifications also speak to our pursuit and achievement of the highest quality standards. 
 
As innovators and the best business minds find new ways to build better businesses, you can be sure Keats will be here implementing and adapting our best practices to the needs and benefits of our clients.  Within custom manufacturing, you’ll not find better customer service than with Keats.