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 ruling addresses four types of expenses associated with the implementation of just-in-time manufacturing techniques: the costs of reconfiguring manufacturing equipment; materials and supplies to implement just-in-time manufacturing (consisting principally of signs and other tangible property); workforce training costs; and consulting fees related to training management and the workforce in just-in-time manufacturing techniques.
United States(4) support its conclusion that costs to implement just-in-time manufacturing techniques are capital.
Just-in-time manufacturing involves ordinary and necessary training to implement efficient management and manufacturing practices rather than training to facilitate the issuance of governmental licenses.
Nonetheless, without additional guidance circumscribing its application, the just-in-time ruling will likely spawn a plethora of proposed adjustments for machinery rearrangement costs, employee training expenses, and consulting fees -- regardless of whether the costs are attendant to the implementation of just-in-time manufacturing techniques.
Companies Diminished by Tax Policy Denying Deductions for Implementing Just-in-Time Manufacturing Techniques.
One of the milestones of the partnership was an announcement that Kingston Technology would provide Toshiba with global just-in-time manufacturing, testing and order fulfillment services to support orders for Rambus modules from Toshiba's OEM customers.