Just-in-time inventory management is a business strategy designed to reduce the amount of inventory on hand by delivering and stocking goods or services at precisely the right quantities, moments, and locations. By using this method, businesses can substantially cut costs related to overstocking, such as storage fees, shrinkage, and depreciation, while improving customer service and satisfaction. This method enables businesses to streamline their operations and maximize efficiency, since resources are directed towards production only when needed. In effect, it allows companies to run leaner and more cost effectively in today’s fast-paced business world.