Just-in-Time (JIT) is a management strategy that aims to reduce inventory costs by aligning 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. JIT is a lean management process that originated in Japan and involves all employees, from assembly line workers to the CEO, to continuously improve operations. JIT is popular with small businesses and major corporations alike because it enhances cash flow and reduces the capital needed to run the business.
JIT is not only used in inventory management but also in computing. JIT compilation is a technique used in computing where code is compiled during execution of a program rather than before execution. The JIT compiler outputs the machine code directly into memory and immediately executes it, rather than outputting it to disk and then invoking the code as a separate program, as in usual ahead of time compilation.
