The term of just-in-time (JIT) inventory refers to just having enough product on hand to meet the demand of your client base without purchasing excess quantities. Accurate inventory information that is readily available to companies is often flawed due to the presence of store pickup and online purchasing methods being offered to consumers. Utilizing a JIT method provides these business owners with the ability to a reduction in inventory costs, markdowns on more items, and minimal production errors.
Key Takeaways:
- Just in Time inventor allows retailers to maintain convenient access to product on short notice, for easy fulfillment.
- Because retailers have so many channels through which to reach consumers, the inventory process has become more complicated over time.
- JIT inventory helps retailers save money and more easily meet their customers’ needs.
“JIT programs highlight the importance of having the right inventory management system in place to ensure real-time stock visibility, helping you make better business decisions.”
Read more: https://www.spscommerce.com/blog/just-in-time-jit-inventory-management-spsg/
