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Just In Time Explain

oboloo Glossary

Just In Time Explain

Just In Time (JIT) is a business strategy that strives to streamline operations and minimize waste. Its goal is to reduce costs by delivering only what is needed, when it is needed, with minimum effort and cost. The focus of JIT is on eliminating the most expensive resource: time. To achieve this, businesses must align their activities with customer demand, optimize inventory levels, and identify any issues that are causing delays. By doing so, they can make more efficient use of raw materials, labor, and capital which improves their bottom line. JIT production encourages businesses to think ahead and be proactive in ensuring all processes run smoothly. It also emphasizes flexibility, enabling them to quickly respond to changing market conditions.

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