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just-in-time

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just-in-time

Production management practice requiring that incoming supplies arrive at the time when they are needed by the customer, most typically in a manufacturer's assembly operations. JIT requires considerable cooperation between supplier and customer, but can reduce expenses and improve efficiency, for example by reducing stock levels and by increasing the quality of goods supplied.



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? Mentioned in ? References in periodicals archive
 
In a report of the American Accounting Association on just-in-time systems, one authority sets the standard for setup times at no more than five minutes and cites automobile manufacturers who can change from one car model to another in two and a half minutes.
 
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