Just-In-Time Inventory

Just-In-Time (JIT) inventory is a production strategy that aims to reduce waste and increase efficiency by receiving goods only as they are needed in the manufacturing process. This approach minimizes storage costs and helps companies avoid overproduction. Instead of keeping large amounts of inventory on hand, businesses carefully time their orders so that materials arrive just before they are needed for production. This method streamlines operations, reduces waste, and can lead to faster response times to customer demands, ultimately improving profitability and competitiveness.