The paper is organised as follows: after this
introduction, section 2 reviews some of the literature
available on JIT, and cost and risk modelling. Section
3 presents the proposed model formulation that will
be used in this paper. In section 4, a case study is
provided to illustrate the application of the model.
Section 5 discusses the fi ndings that will be obtained
by implementing the developed model in the
example problem. Finally, conclusion of this paper
is presented in section 6.