COSTMANAGEMENT
The Top 3
SWOT Analysis
Naturally, any SWOT analysis you perform isn’t
going to be as detailed as what a Fortune 500
company would do for their board of directors. In
these examples, we’re bound to leave out certain
factors they would consider, just because we don’t
have access to their secret vault.
1. Apple
Strengths:
JIT
Just in Time Manufacturing (JIT) – also known as
"lean manufacturing" refers to a system of
manufacturing in which products are not built until
the product is ordered and paid for. Some companies
that have successfully implemented JIT include
Toyota, Dell and Harley Davidson.
JIT's main
philosophy is to eliminate waste – wasted inventory,
wasted stock and wasted time. By creating and
deliverying products quickly when consumers request
them excess inventory is eliminated, customers
receive their orders quicker and the manufacturer
doesn't need to keep a large inventory of stock parts.
Examples
Toyota
Toyota is considered by many to be the poster child
for JIT success. The Toyota production strategy is
highlighted by the fact that raw materials are not
brought to the production floor until an order is
received and this product is ready to be built. No
parts are allowed at a node unless they are required
for the next node, or they are part of an assembly for
the next node. This philosophy has allowed Toyota to
keep a minimum amount of inventory which means
lower costs. This also means that Toyota can adapt
quickly to changes in demand without having to
worry about disposing of expensive inventory.