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Just-In-Time

[juhst in taim]

What is the definition of Just-In-Time?
An inventory management philosophy in which resources, including materials, personnel, and facilities, are utilized only as needed, with the goal of minimizing waste and increasing efficiency.
Using Just-In-Time in an Example

A car manufacturer using the Just-In-Time system coordinates the arrival of materials and components at the production facility precisely at the time they are required for assembly, reducing the need for large storage spaces and minimizing the holding costs.

Using Just-In-Time in a sentence

The company adopted a Just-In-Time approach to streamline operations and reduce excess inventory costs.

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Joint Return

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Joint Venture

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