Just-in-Time (JIT) is a production strategy aimed at reducing waste and improving efficiency by receiving goods only as they are needed in the manufacturing process. This approach minimizes inventory costs and ensures that materials are fresh and relevant, allowing companies to respond quickly to customer demands. JIT was popularized by Toyota in the 1970s as part of its Toyota Production System. By synchronizing production schedules with demand, JIT helps businesses streamline operations, reduce excess stock, and enhance overall productivity, ultimately leading to cost savings and improved customer satisfaction.