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Just-in-time (JIT) logistics is a strategy that involves the delivery of goods and materials to a manufacturing or production facility precisely when they are needed, in the exact quantities required, and in the right condition. This approach aims to minimize waste, reduce inventory costs, and increase efficiency by streamlining the supply chain. The JIT logistics concept was first introduced by Toyota in Japan in the 1970s as part of its lean manufacturing system. It has since been widely adopted by companies in various industries around the world. The approach involves close coordination between suppliers, logistics providers, and manufacturers to ensure that the right parts and materials are delivered at the right time and in the right sequence. By adopting a just-in-time logistics approach, companies can reduce the need for large inventories, lower warehousing costs, and minimize the risk of overproduction. The result is a more efficient, responsive, and sustainable supply chain that can help companies stay competitive in today's fast- paced business environment.
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Mrs. Shajitha Banu.S ., M.Com., M.Phil., Assistant Professor atPG & Research Department of International Business,SRI RAMAKRISHNA COLLEGE OF ARTS AND SCIENCECOLLEGE.
