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    JIT

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    What is JIT and the pros and cons of JIT?

    © BrainMass Inc. brainmass.com October 9, 2019, 5:32 pm ad1c9bdddf
    https://brainmass.com/business/just-in-time/60586

    Solution Preview

    The full form of JIT is Just-in time inventory systems. IT is a type of inventory system that aims at reducing the inventories in production process. In a perfect JIT scenario, there will no inventories and the required raw materials will arrive just when they are needed and therefore, resulting in zero inventories.

    Definition with example: (Source: http://www.investopedia.com/terms/j/jit.asp )
    An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, ...

    Solution Summary

    The full form of JIT is Just-in time inventory systems.

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