Thesis Abstract

Abstract
This thesis investigates the application of Just-in-Time (JIT) purchasing to optimize inventory management in a manufacturing company. The study aims to address the challenges faced by traditional inventory management practices and explore how JIT purchasing can enhance efficiency, reduce costs, and improve overall performance in the manufacturing sector. The research methodology involves a comprehensive literature review, data collection through surveys and interviews, and analysis of findings to draw meaningful conclusions. Chapter One provides an introduction to the research topic, background information, problem statement, objectives, limitations, scope, significance, structure of the thesis, and definition of key terms. Chapter Two presents a detailed literature review consisting of ten key items that explore existing theories, models, and case studies related to JIT purchasing and inventory management in manufacturing companies. Chapter Three outlines the research methodology, including research design, data collection methods, sampling techniques, data analysis procedures, ethical considerations, limitations, and reliability and validity measures. The chapter also discusses the selection criteria for the study participants and the rationale behind the chosen research approach. In Chapter Four, the findings of the research are presented and discussed in detail. The analysis includes the impact of implementing JIT purchasing on inventory levels, lead times, supplier relationships, cost savings, and overall operational efficiency. The chapter also examines the challenges and opportunities associated with adopting JIT purchasing in a manufacturing company. Chapter Five provides a comprehensive conclusion and summary of the thesis, highlighting the key findings, implications for practice, recommendations for future research, and the overall significance of optimizing inventory management through JIT purchasing in a manufacturing company. The conclusion emphasizes the importance of implementing JIT principles to enhance competitiveness, sustainability, and profitability in the dynamic manufacturing industry. In summary, this thesis contributes to the existing body of knowledge by offering insights into the practical application of JIT purchasing to optimize inventory management in a manufacturing context. The research findings provide valuable guidance for industry practitioners, managers, policymakers, and academics seeking to enhance operational efficiency and performance through innovative inventory management practices.

Thesis Overview

The project titled "Optimizing Inventory Management through Just-in-Time (JIT) Purchasing in a Manufacturing Company" aims to investigate and implement strategies to enhance inventory management practices in a manufacturing setting through the adoption of Just-in-Time (JIT) purchasing principles. Inventory management is a critical aspect of manufacturing operations, directly impacting efficiency, cost-effectiveness, and customer satisfaction. JIT purchasing is a well-established methodology that focuses on minimizing inventory levels, reducing lead times, and improving overall supply chain performance. The research will begin with a comprehensive review of existing literature on inventory management, JIT purchasing, and their applications in manufacturing companies. This review will provide a theoretical framework and insights into the benefits and challenges associated with JIT purchasing in the context of inventory management. The study will then delve into the research methodology, outlining the approach to data collection, analysis, and implementation of JIT purchasing strategies. This will involve conducting interviews with key stakeholders, gathering data on current inventory management practices, and identifying areas for improvement. The project will also include a detailed discussion of findings, where the results of the research will be analyzed and interpreted. This analysis will highlight the effectiveness of implementing JIT purchasing in optimizing inventory management practices within the manufacturing company. Key performance indicators such as inventory turnover, stockouts, and lead times will be evaluated to assess the impact of JIT purchasing on operational efficiency and cost savings. Finally, the research will conclude with a summary of key findings, implications for practice, and recommendations for future research. The project aims to contribute valuable insights and practical recommendations to manufacturing companies seeking to enhance their inventory management practices through the adoption of JIT purchasing principles.