-

just - in - time (JIT) is an inventory management approach which ensures

that the exact amount of material inputs will arrive only as they are
needed in the operation process
Managing stock effectively is very important. JITS aim is to have business
only make enough products to meet demand.
First used by the Ford motor company, it was adopted and publicised by
Toyota as part of its production process

Advantages
-

Free up funds
Stores can display a wider range of goods if they adopt JIT
Avoiding holding costs, storage costs, reduce shrinkage costs

Disadvantages
-

Totally dependent on suppliers

Difficult to implement. A business must be able to respond to change in
market demand quickly if they are operating with JIT