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Just-in-Time (JIT) is an inventory system that aims to reduce waste by receiving goods only as needed, thus keeping inventory low. JIT was first developed in the late 18th century as interchangeable parts but was later refined in Japan after World War II as the Toyota Production System. It relies on an efficient supply chain to produce goods in the necessary quantity, quality and time to meet customer demand. While JIT provides benefits like freeing up capital and focusing on tasks, it is susceptible to delays from vendors and seasonality issues if not implemented properly.










