Just-in-time production is a manufacturing strategy that aims to reduce waste and increase efficiency by producing goods only as they are needed. This approach minimizes inventory costs and ensures that materials arrive at the production line just in time for assembly, rather than being stored for long periods. By synchronizing production schedules with customer demand, companies can respond quickly to changes in the market. This method is often associated with Toyota and its Toyota Production System, which emphasizes continuous improvement and lean manufacturing principles to streamline operations and enhance productivity.