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Just-in-Time (JIT)
Term category: General Business
In 10 words or less: A business term that refers to completing an order only after it has been placed.

Definition: Just-in-time (JIT) manufacturing is a process by which companies don't keep lots of excess inventory; instead, they manufacture a product as an order comes in.

StockJargon Advice: JIT is an important topic for manufacturers.  Companies that employ it effectively can decrease their inventories and increase overall efficiencies.  Decreasing inventory allows companies to decrease waste, which saves lots of money; however, this often comes at the cost of slower completion times to fill orders.

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