Business Management Principles

1 words in this vocabulary list

JIT

JIT

noun JIT is a management philosophy that aims to eliminate waste in all aspects of a business.

  • Just-in-time (JIT) inventory management is a strategy used by companies to minimize excess inventory and reduce storage costs.
  • Using JIT helps companies keep only the necessary amount of inventory on hand at any given time.
  • JIT is like ordering your food just before you're ready to eat, so it's always fresh and hot.
  • Implementing JIT in your workflow is like fine-tuning a well-oiled machine, maximizing efficiency and minimizing waste.