Many companies have adopted the lean business model, whose goal is to eliminate waste while “satisfying the customer” and “providing a positive return” to the company. This had led companies to adopt practices such as total quality management (TQM) and just-in-time manufacturing (JIT) . Briefly research the concept of JIT manufacturing and then answer the following questions by posting your answers in the discussion post.
1. Using the balance sheets included below, compute the ratio of inventory to total assets for Apple as of September 29, 2018, and for Samsung as of December 31, 2018. Express your answers as percentages, rounded to two decimal places. (For example, looking at Apple’s balance sheet for the fiscal year ended 2017, the ratio would be computed as follows – > $4,855/$375,319 = .0129 so show as 1.29%)
2. Based on your analysis, which company’s (Apple’s or Samsung’s) inventory policy more closely follows a JIT system?
3. Share your smartphone preference – are you an Apple? Samsung? or Other user?