Investor Glossary-just-in-timeInvestor Glossary-just-in-timeInvestor Glossary-just-in-timeInvestor Glossary-just-in-timeInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Just-in-time

The HTML to link to this page
 

Just-in-time is an inventory system where raw materials are delivered right before they are needed on the assembly line, and finished goods are manufactured just before they are shipped to customers. Just-in-time improves return on investment by substantially reducing overhead cost, limiting quality inspections, and eliminating obsolete inventory. Just-in-time does generate substantial risk, however: under just-in-time systems, production stops when parts aren't delivered on schedule, and huge bottlenecks are created when product isn't shipped on schedule. Thus successful just-in-time manufacturing requires both superior management and a highly disciplined workforce. Just-in-time is closely associated with methods introduced and refined by the Toyota Motor Company of Japan and copied by manufacturers throughout the world. In truth, however, just-in-time is simply one element of the comprehensive Toyota Production System, which attempts to eradicate waste of all kind.



Rate this just-in-time definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: deferred revenue, FTSE, labor relations, debt service coverage, EBITDA, ex-dividend date, covered put, diluted share, LIBOR, Key Rate Duration, stock split, retained earnings, implied volatility, irrevocable trust, per diem, ex-dividend, 401a, balance sheet, Zero Cost Collar, reverse mortgage, in escrow, real GDP, open position, risk management, required rate of return, class C shares, stock market close, liquidity ratio, 1035 exchange, margin rate, quality assurance, limit order, dividends payable, FICO score, average price per share, option premium, phantom income, 144a, cancelled check, 1031 exchange, deferred tax, current ratio, annual return, wholly-owned subsidiary, APR, VIX, inflation, minority interest, command economy


Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use