Just In Time (JIT)
Just in time (JIT) is an inventory management strategy that is designed to minimize waste and improve efficiency by ensuring that materials are only delivered when they are needed. JIT logistics involves coordinating the supply of goods with the demand for them so that items arrive exactly when they are needed and no sooner. This can help to reduce inventory costs, as well as the risk of materials becoming outdated or damaged in storage.
JIT logistics can be a challenge to implement, as it requires close collaboration between suppliers and customers, as well as careful planning and coordination. However, done correctly, it can lead to significant cost savings and improved efficiency for both parties involved.
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