Just in time (JIT) inventory control systems occur when a business holds no stock and instead relies upon deliveries of raw materials and components to arrive exactly when they are needed.
A pure JIT model certainly addresses the issue of inventory elimination, but the risk is just too great when dealing with suppliers, production variances and capricious clients in multiple countries.
Although a functional model, the biggest knock against MRP is its emphasis on carrying inventory to avoid disruptions in the supply chain. Just in time (JIT), on the other hand, has come to the ...
Just-In-Time (JIT) review is a process by which investigators are not required to submit IACUC paperwork until they know if their grant is likely to be funded. Some funding agencies still require ...