just in time (JIT) inventory

Popular Terms
Pull' (demand) driven inventory system in which materials, parts, sub-assemblies, and support items are delivered just when needed and neither sooner nor later. Its objective is to eliminate product inventories from the supply chain. As much a managerial philosophy as an inventory system, JIT encompasses all activities required to make a final product from design engineering onwards to the last manufacturing operation. JIT systems are fundamental to time based competition and rely on waste reduction, process simplification, setup time and batch size reduction, parallel (instead of sequential) processing, and shop floor layout redesign.
Under JIT management, shipments are made within rigidly enforced 'time windows' and all items must be within the specifications with very little or no inspection. It was developed and perfected by Taiichi Ohno of Toyota Corporation during 1960s and 70s to meet fast changing consumer demands with minimum delays. See also just on time.

Use 'just in time (JIT) inventory' in a Sentence

Our just in time inventory was absolutely perfect because we always got things to their destination on time and it made people happy.
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Finding reliable companies that specialize in just in time inventory would be essential to the success of the new line.
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The production facility implemented a just in time inventory system that delivered parts and materials as they were needed by the laborers.
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