Just-in-Time (JIT) is a management strategy that aligns raw-material orders from suppliers directly with production schedules. JIT is a form of inventory management that requires working closely with suppliers so that raw materials arrive as production is scheduled to begin, but no sooner. The goal is to have the minimum amount of inventory on hand to meet demand. Key features of JIT include:

• Reduced inventory: JIT minimizes the need for a company to store large quantities of inventory, which improves efficiency and provides substantial cost savings.

• Reliance on suppliers: Companies employing JIT rely heavily on their supply chain to deliver the parts they require to build products on an as-needed basis.

• Dependence on steady production and reliable suppliers: For JIT manufacturing to succeed, companies must have steady production, high-quality workmanship, glitch-free plant machinery, and reliable suppliers.

• Flexible production: In a JIT model, the manufacturer has complete control over the manufacturing process, which works on a demand-pull basis. They can respond to customers’ needs by quickly increasing the production for an in-demand product and reducing the production for slow-moving items.

• Cost savings: JIT can provide substantial cost savings by reducing the amount of inventory a company needs to store and by using the "right first time" concept to reduce inspection and rework costs.

While JIT has many advantages, it also has some disadvantages. For example, JIT is dependent on suppliers performance and timeliness, which can be hard to ensure. Additionally, the manufacturer needs to be able to cover any sudden increases in the price of raw materials, since they cannot wait to order during better pricing.