Definition
The Just in time (JIT) inventory is a strategy to increase efficiency and reduce the waste by receiving items only as they are needed in the development process. In other words, it is an inventory management system with objectives of having inventory readily available to meet demand, but not to a point where the inventory is loaded with items that aren’t needed at a particular point of time.
Further Reading
-
“Just-in-Time Elements and Benefits”, by Aidé Aracely Maldonado-Macías.
- “Kanban Just-in-time at Toyota: Management Begins at the Workplace”.
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