Definition, Meaning & Synonyms

just-in-time

Adjective

/ˌjʌst ɪn taɪm/

Definition

A production strategy that strives to improve a business’s return on investment by reducing in-process inventory and associated carrying costs.

Examples

The company adopted a just-in-time manufacturing approach to remain competitive in the market.
By implementing just-in-time inventory practices, the retailer reduced holding costs and improved efficiency.
Just-in-time delivery can significantly enhance customer satisfaction by ensuring products arrive when needed.

Meaning

The term ‘just-in-time’ refers to a management strategy that aligns production schedules with demand, ensuring that materials and products are available only as they are needed, thereby minimizing waste.