Just in time (JIT) inventory,
Definition of Just in time (JIT) inventory:
On-demand (on-demand) inventory system in which materials, parts, sub-assemblies and load-bearing elements are delivered on time, not before or after. The purpose is to remove product inventory from the supply chain. JIT is the philosophy of inventory and management systems, and includes all the activities necessary to create the final product from design to final manufacture. The JIT system is important for time-based competition and it is to reduce waste, simplify the process, schedule and reduce the size a lot, redesign parallel processing (not configuration) and workshop layout. Based on Under the auspices of JIT, deliveries were made within strict deadlines and all items must be inspected. It was developed and refined by Toyota Corporation's Taichi Ohno in the 1960s and 1970s to meet consumer demands with minimal delays. See also at the right time.
Refers to the manufacturing system which is used to minimize inventory costs immediately before use. Only materials or components are shipped.
Synonyms of Just in time (JIT) inventory
Just in time, Almost too late, Not a moment too soon, At the critical moment
How to use Just in time (JIT) inventory in a sentence?
- Finding a reliable company that specializes in timely inventory will be critical to the success of a new line.
- Our stock is just right because we always reach our destination on time and make people happy.
- The factory implements a timely inventory system that supplies parts and materials according to workers' requirements.
- Timely inventory control.
Meaning of Just in time (JIT) inventory & Just in time (JIT) inventory Definition