Just-In-Time Inventory (JIT) is a management strategy that aims to reduce waste by receiving goods only as they are needed in the production process. This approach minimizes inventory costs and ensures that products are fresh and relevant. Companies using JIT often rely on strong relationships with suppliers to ensure timely deliveries. By implementing JIT, businesses can improve efficiency and responsiveness to customer demand. However, it requires careful planning and coordination, as any delays in the supply chain can disrupt production. Overall, JIT helps companies maintain lean operations while meeting market needs effectively.