Just-in-Time versus Just-in-Case Inventory Management: Is it Time for a Shift?
Just-in-Time (JIT) is a system for managing inventory where goods or materials are obtained only when they are needed from suppliers in an effort to reduce the cost of holding inventory. Alternately, Just-in-Case (JIC) is an inventory management method where large inventories are held to prevent running out-of-stock. This method weighs the higher cost of […]