Just-in-Time

(JIT)

A methodology where inventory movements are controlled by real-time demand, rather than stacking materials up in piles according to a forecast. JIT sees materials, parts, sub-assemblies, and support items delivered to the production line at the exact moment they are needed, and neither sooner nor later. This can control costs by reducing inventory, and also by encouraging production only when needed, not simply because a production machine is idle.