just-in-time

Vocabulary Word

Definition

'Just-in-time' is a method used in businesses to cut down waste. It involves getting supplies or doing something exactly when it's needed, not earlier or later. Like ordering pizza to arrive just in time for the party, not hours before!

Examples in Different Contexts

In Manufacturing Efficiency, 'just-in-time' (JIT) is a production strategy that aims to reduce times within the production system as well as response times from suppliers and to customers. A manufacturing manager might say, 'Implementing JIT has significantly reduced our inventory costs by producing goods only as they are needed.'

Practice Scenarios

Tech

Scenario:

Our system might not be ready for sudden user demand increases. It could cause performance issues. Any thoughts on resolving this issue?

Response:

We should consider investing in just-in-time allocation of resources to tackle this issue.

Business

Scenario:

We're experiencing delays with our suppliers which might impact our production schedule. Let's revisit our inventory management systems.

Response:

Agreed, implementing just-in-time inventory management could definitely help to mitigate these delays.