Just In Time

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Just In Time

A supply chain management system designed to reduce carrying costs to a minimum. A firm only orders what it expects for its immediate needs; therefore, it keeps a low inventory. For example, if a retailer believes it will sell 1,000 widgets in a week, it orders precisely 1,000 widgets from its manufacturer. JIT systems require that the retailer at the end of the supply chain can accurately predict demand for its products. They also require that each stage of the supply chain knows exactly how much time it takes to fill an order when it is made. The automotive industry and budget retailers commonly use JIT systems. See also: Lead time, Just in case.
References in periodicals archive ?
The study identifies three key ways that businesses can transform their marketing programs into a just-in-time model.
Because the just-in-time logistics method relies heavily on quickly providing supplies only as they are needed, there is no need (or the need is greatly reduced) for warehouses and depots and the personnel to work in them.
While health care in Ontario and Canada is very much a just-in-time system, it is not timely for patients.
But crammed dock space in stockpiling raw material in the months leading up to winter freeze-up meant seriously looking at just-in-time delivery by rail.
While the world at large was busy trying to understand the impact of new "wonder" cures being touted, such as lean manufacturing, agile manufacturing, just-in-time manufacturing, design for assembly, etc.
Following the issuance of the TAM a settlement was negotiated in the case that was almost wholly satisfactory to the taxpayer: not only were the just-in-time manufacturing training expenditures involved in the case determined to be currently deductible (or amortizable over a relatively short time frame), but it was agreed that the taxpayer's ongoing expenditures for training could be currently deducted as ordinary and necessary business expenses.
Maybe we're ready to get sucked into this 24-hour-a-day blur, using our just-in-time tools to cross over from work life to personal life and back again at R.
The Internal Revenue Service has ruled in a private letter ruling that costs incurred to convert from a batch system of production to a just-in-time system--which produces long-term benefits--must be capitalized and may not be deducted.
The revolution in the 1980s was toward just-in-time inventory," business consultant Nancy Hutchens told The New York Times recently.
Hay's book, The Just-in-Time Breakthrough--Implementing the New Manufacturing Basics, is an excellent introduction to the concepts and the methods for installing just-in-time or world class manufacturing systems.
Instead, sales people need just-in-time sales coaching and messaging specific to the opportunity they're working right now.
During the process it tracks and routes vehicles, delivering information to over 150 shop floor devices, and notifies suppliers when to ship their parts so they arrive just-in-time and in sequence.