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JIT Concept and Forecasting

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What is the relationship between JIT concept and forecasting? Do the two go hand-in-hand?

© BrainMass Inc. brainmass.com September 23, 2018, 10:11 am ad1c9bdddf - https://brainmass.com/business/finance/jit-concept-forecasting-154485

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What is the relationship between JIT concept and forecasting? Do the two go hand-in-hand?

Forecasting and JIT goes hand in hand in that both are necessary [planning] parts of a successful business operation. JIT is a form of providing products or services to customers, as the name suggests, "just in time". Jointly, planning is an important part of a manager's job, and this is where forecasting comes in. Forecasts help managers by reducing some of the ...

Solution Summary

This solution of 275 words explains the JIT concept and forecasting and also discusses the relationship of the two variables.

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