Definition

Just-in-time (JIT)

Just-in-time (JIT) refers an inventory control system that keeps the inventory of parts and material at the lowest possible level by using suppliers who deliver the fewest possible items at the latest possible moment, just in time to keep production moving smoothly.

Share it:  Cite

More from this Section

  • Audit
    Audit is the examination of the books and accounts of a company to examine the books and ...
  • Registered and bearer bonds
    Bonds issued in the name of the owner are registered bonds. Interest payments on registered ...
  • Convertible bonds
    Convertible bonds refer to the bonds that permit bondholders to convert them into common ...
  • Net income
    Net income is the amount of profit that a company earned during an accounting period. ...
  • Bond indenture
    The terms of the bond issue are set forth in a legal document called a bond indenture. ...