Just in time or as the scholars call it JIT, is a management philosophy that streamlines the movement of goods in a way that a unit receives them only when they are needed for a production process. By applying the JIT concepts, a manufacturing unit can align the material orders from suppliers with the production schedules or as per the customer’s demand. In a nutshell, JIT is a lean manufacturing method which helps in producing what the customers want, when they want, in the exact quantities they have requested, and without overburdening the inventories.
JIT is a kind of inventory management system which differs from others in that it doesn’t require building up piles of inventory, weeks or months in advance. Conversely, it aims towards creating nearly-instant inventory management systems, where a manufacturer places orders in small volumes or batches quite frequently. This simply means when a material is required, it is delivered, resulting in minimum on-site inventory. Maximum efficiency, productivity, minimum cost, and waste elimination are what JIT strives for.
