Just-in-Time Inventory Management

Just-in-Time (JIT) inventory management is a system that aims to reduce waste by receiving goods only as they are needed in the production process. Instead of keeping large quantities of stock on hand, businesses order and receive inventory just when it's required. This approach helps minimize storage costs and reduces the risk of unsold products. JIT allows companies to be more responsive to customer demand while maintaining efficiency. However, it requires careful planning and reliable suppliers to ensure that deliveries align perfectly with production schedules.