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Just-In-Time Inventory Systems

oboloo Glossary

Just-In-Time Inventory Systems

Just-In-Time (JIT) Inventory Systems are an inventory control strategy which aims to reduce cost of production and streamline operations through ordering, producing and delivering goods only when they are needed. This system does not hold a large stock of inventory but instead uses the exact quantity for production based on customer demand with reduced holding or idle times. This method is beneficial as it eliminates wastage from overproduction or from being left with excess stock, enables quick response to customer needs, offers flexibility in production scheduling, minimizes storage costs and ensures high product quality.

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