The extent to which the management of the Libyan Iron and Steel Company understands the role of the Just-in-Time production system in reducing costs and inventory levels

Abstract

This study aimed to determine the level of awareness among the management of the Libyan Iron and Steel Company regarding the role of Just-in-Time (JIT) production (just-in-time) in reducing costs and inventory levels of raw materials, work-in-process, and finished goods. To achieve the study's objectives, a descriptive-analytical approach was employed. Data collection involved a questionnaire distributed to the study population, totaling 30 forms. Only 28 forms were deemed suitable for statistical analysis. To test the study's hypotheses, a variety of statistical methods were used for data analysis. The results of the study revealed a high and significant level of awareness among the management of the Libyan Iron and Steel Company regarding the role of JIT production (just-in-time) in reducing costs and inventory levels of raw materials, work-in-process, and finished goods. In light of the findings, a number of recommendations were formulated, the most prominent of which are summarized in the following points: Working to fully activate the Just-in-Time (JIT) production system and achieve its complete integration with all production stages and operational processes within the Libyan Iron and Steel Company, in parallel with deepening the existing awareness among administrative and technical staff of the importance of this system. This is done through active participation in seminars and programs organized by the company to ensure the sustainability of awareness of the importance of the system and the development of its application mechanisms. Working to deepen strategic cooperation relations between the Libyan Iron and Steel Company and leading international companies in developed countries that apply the JIT production system with high efficiency, with the aim of directly benefiting from their experiences in applying the system. Also, holding specialized training programs in joint cooperation with these companies to enable employees to understand all aspects related to the mechanisms of applying the system in a practical way.