JITM

AcronymDefinition
JITMJagannath Institute of Technology and Management (India)
JITMJust in Time Manufacturing
References in periodicals archive ?
Costs incurred to transform a manufacturing process to JITM were at issue in IRS Letter Ruling (TAM) 9544001.
Further, the business may have to create new software to enhance the JITM process.
The facts in TAM 9544001 stated that JITM was a radical redesign of existing manufacturing processes resulting in a fundamental change in the business processes at the taxpayer's manufacturing facilities.
The JITM process generally combines several operations of production into a single work unit, or "cell.
The taxpayer adopted the JITM on a cell-by-cell basis to increase its productivity and competitiveness.
The Service found that the reconfiguration of the plants allowed the taxpayer to use its existing equipment in new and more efficient ways, and that the costs were part of an overall plan, capital in nature, to convert the taxpayer's facilities to the JITM.
The Service viewed the conversion to the JITM as a "radical redesign of, and a fundamental change in" the business processes at the taxpayer's manufacturing facilities.
The taxpayer also incurred costs for materials and supplies used to implement the JITM.