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Question: What do you understand by just- in- time?

Answer: Just-in-time (JIT) is an inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process,thereby reducing inventory costs. This method requires producers to forecast demand accurately.

Just-in-time (JIT) is an inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process,thereby reducing inventory costs. This method requires producers to forecast demand accurately. Source: CoolInterview.com

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