What is Just-in-Time (JIT)?
Just-in-Time is a manufacturing and inventory management approach where goods are produced or acquired exactly when needed, minimizing excess inventory and associated costs while improving efficiency.
Just-in-Time is a manufacturing and inventory management approach where goods are produced or acquired exactly when needed, minimizing excess inventory and associated costs while improving efficiency.
Introduction: Just-In-Time (JIT) is a management philosophy that aligns raw-material orders from suppliers directly with production schedules. It is employed to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs. This strategy emphasizes the continuous improvement of production processes and requires precise coordination between manufacturers and suppliers. The JIT approach can significantly enhance a company's return on investment, quality, and efficiency by minimizing inventory holding costs, reducing production lead times, and optimizing the manufacturing process.
Key Principles of JIT:
Benefits and Challenges of JIT: