minimizing inventory by providing an almost continuous flow of items from suppliers to the production facility is referred to as just-in-time inventory management.
In order to ensure that raw materials arrive at the precise moment that manufacturing is meant to begin, but not sooner, just-in-time inventory management requires close cooperation with suppliers. Just enough inventory must be kept on hand to satisfy demand.
A company that sells office furniture but does not make it, for example, might only order the furniture from the producer once a customer makes a purchase. The maker sends it directly to the customer. The cost of the store's inventory storage has decreased.
A just-in-time system has a consistent production pace, small lot sizes, closer supplier relationships, high product quality, quick and inexpensive setups, adaptable facilities, a multiskilled workforce, efficient maintenance, and ongoing quality control.
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