Which concept is closely related to just-in-time (JIT) manufacturing?

The concept closely related to just-in-time (JIT) manufacturing is producing finished goods only when needed. JIT is a production strategy that seeks to improve a business's return on investment by reducing in-process inventory and associated carrying costs. This approach aims to streamline production processes by ensuring that materials and products are made and delivered at the right time to meet customer demand, rather than producing them in large quantities upfront or holding excess inventory.

In JIT systems, production is closely aligned with demand, minimizing waste and enhancing efficiency. This method contrasts with traditional manufacturing approaches that rely on keeping high levels of inventory, which can lead to increased holding costs and potential obsolescence. By focusing on making products only when they are needed, JIT helps businesses respond more effectively to changes in customer preferences while improving overall operational efficiency.