The Importance of the Application of Just-In-Time System Specified in Public Companies

Dr. Saoud  Chayed Mashkoor-Dr. Ali Naeem Jassim, Prof.

	The Importance of the Application of Just-In-Time System Specified in Public Companies
Muthanna Journal of Administrative and Economic Sciences
Article 1, Volume 2, Issue 2, 2012, Pages 95-123
Author
Prof. Dr. Saoud Chayed Mashkoor-Dr. Ali Naeem Jassim
Abstract
The just in time system (JIT) is consider one of modern productive systems that have entered production techniques at the end of the twentieth century. This system is reflected on the accounting process because it is used as the main tool to reduce the costs of products through the fundamental item of the elements of cost accounting; this element is represented by the inventory with keeping the quality of the products. Depending on this system is not impossible but it may be difficult in the beginning due to not providing of availability requirements and the requirements applied. We study the problem emerged in the inability of local companies to enter the field of active competition with other companies operating in the same economic sector due to the high cost of their products, hence, the companies that want to apply this system can effectively compete in order to achieve those objectives. So this study focused on the goal of reducing the cost of products by reducing the cost inventory to a minimum, as the study was based in its hypothesis on the ability of companies to application this system, which in turn leads to increased profits under conditions of normal working and the power available and their potential in improving the quality of its products, as well as the need for full coordination between production management and purchases and sales. Based on which enjoys the advantages of this system is important for companies has called on the need to study the possibility of its application in public companies that apply the accounting system standardized by choosing one of these companies as a sample to find a company Our General Engineering Industries. Divided into two sections to this study, reviewed the first section the conceptual framework for the production technology in time (JIT), while the second section dealt with the practical side, the study included financial statements showing the impact of this approach is compared with the traditional method. The findings of this study to the possibility of application of local companies for that system, and then built on the basis of the study's recommendation that all local companies with the potential application of this system because of its advantages and benefits of achieving the objectives of those companies to reduce the cost of their products and increase the level of performance.

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