Results for tag: "Just In Time"

Just in Time (JIT) is a supply chain management strategy that focuses on reducing inventory costs and improving efficiency by delivering goods and services at the right time and in the right quantity. It is based on the idea of having the right amount of inventory available at the right time, eliminating the need for excess inventory. JIT also encourages collaboration between suppliers and customers, allowing for better communication and coordination. JIT is used by many companies in a variety of industries, including automotive, electronics, and retail. Companies such as Toyota, Dell, and Amazon have all implemented JIT strategies to reduce costs and improve efficiency. JIT is also used in the food industry, where it helps to reduce waste and improve the quality of products. By using JIT, companies can reduce their inventory costs and improve their overall efficiency. Show Less Read more