Just-In-Time Inventory: Definition, Benefits & Implementation Guide
What Is Just-In-Time Inventory?
Just-In-Time Inventory (JIT) is a lean supply chain strategy that aligns raw-material orders from suppliers directly with production schedules. Instead of stockpiling goods, companies receive components only when they are needed, freeing capital, reducing warehousing costs, and minimizing obsolete stock. Popularized by Toyota, JIT Inventory has