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Just In Time (JIT)
What is Just in Time in logistics?
Just in Time is an inventory management method used for reducing time within the production unit. In addition, JIT helps to increase efficiency and reduce waste by ordering materials only when needed.
Ultimately, JIT reduces inventory costs, and it ensures that the expectations of customers are met on time. The companies using the JIT methodology relies on accurate forecast of demand to process customer order adequately.
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