word
just-in-time
JUST in TYM
dʒʌst ɪn taɪmListen
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Syllable breakdown
justintime
Dictionary meaning
a production and inventory management philosophy in which goods are manufactured or procured only as they are needed, eliminating the cost of holding excess inventory; pioneered by Toyota's Taiichi Ohno as part of the Toyota Production System; increases efficiency but creates vulnerability to supply chain disruptions, as dramatically demonstrated during global events such as the COVID-19 pandemic
Examples
- Just-in-time manufacturing requires precise demand forecasting and reliable supplier relationships.
- The semiconductor shortage exposed the fragility of just-in-time supply chains.
Synonyms: JIT, lean inventory, pull production
Pronunciation tips
Often abbreviated JIT. The phrase is always hyphenated when used as a modifier: 'a just-in-time system'.
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