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Overview
just-in-time
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An approach to manufacturing designed to match production to demand by only supplying goods to order. This has the effect of reducing stocks of raw material and finished goods, encouraging those production activities that add value to the output, and minimizing levels of scrap and defective units. Just-in-time techniques are often associated with continuous improvement and Kaizen costing in the approach known as Total Quality Management.
From: just-in-time in A Dictionary of Accounting »
Subjects: Social sciences — Business and Management
