Just-in-time inventory (JIT) definition

Just-in-time (JIT) inventory management is the strategy of scheduling delivery of supply stock to arrive very near to when it is needed in the manufacturing and assembly process, or when it is anticipated that customers will want it. JIT minimizes the expense of housing inventory by maximizing the very efficient supply chains of the 21st century global marketplace.

JIT is one of the most important best practices of recent years because it has helped companies maximize their working capital by minimizing the expense of holding just-in-case inventory, which is another term for maintaining buffer stock.

Search again for other inventory information.