Just-In-Time (JIT) methodology

Just-In-Time (JIT) is an inventory management approach where companies produce or acquire goods only when needed, reducing excess stock. This method streamlines operations, minimizes storage costs, and improves efficiency by synchronizing production with demand. JIT requires careful planning to ensure components arrive exactly when they're needed, preventing delays while avoiding overproduction. It’s often used in manufacturing to enhance flexibility and cost-effectiveness, emphasizing waste reduction and responsiveness to customer needs.