Just In Time (JIT) in Supply Chain Management is a business strategy that focuses on reducing costs and improving efficiency by minimizing the amount of inventory and other resources held in stock. This is achieved by synchronizing the production process with customer demand, and only producing the exact amount of goods needed, when they are needed. This helps to reduce the costs associated with storing and managing inventory, as well as reducing the risk of overstocking or understocking. JIT also helps to reduce lead times, as goods are produced only when they are needed, and can be delivered to customers quickly. This helps to improve customer satisfaction, as goods are delivered in a timely manner. Additionally, JIT helps to reduce waste, as resources are only used when needed, and are not wasted by overproduction. Ultimately, JIT helps to create a more efficient and cost-effective supply chain, leading to increased profits and customer satisfaction.
