Jonny Boy said:
I have this as a definition - came from my 1st year College:
Just-In-Time - Just-In-Time is a warehousing and transportation term that refers to goods arriving at a destination at the point that it is required at a plant or facility. Just-in-time or JIT reduces the cost of inventory storage and management. This strategy is used widely in the automotive and manufacturing industries. The vendor delivers product or raw materials to a supplier just prior to processing. Some drawbacks are that the timing is critical, and this process must be 100% error free, as a delay can result in a product line shut-down, which is more expensive than short term inventory management costs.
Thanks for your comment. it helped me ^^
Scott Pollard said:
Politically, there was no need for that comment. add me on facebook and lets sort this out you twat.
Thanks Jonny helped a lot boss
cheese cutting board said:
the site has actually helped me for my accounting classes. In fact there are so many terminologies associated with finance and accounting. Among that just in time or JIT comes first. This is used by companies to remove the excessive inventories