Just-in-time Inventory refers to the following:
1. An inventory system model based on the idea that one can coordinate the demand and supply channels to the point that desired items arrive just in time for use, therefore significantly reducing inventory levels.
2. Just in time inventory in retail is the result understanding how much of a particular item is needed to maintain production while more of that same item is ordered. This involves understanding how long it will take for the item to be shipped from the supplier and arrive at the retailer’s distribution centers or stores. Additionally it involves understanding the anticipated sell through or usage of the item. By understanding these pieces of information, it is possible to establish a process that will allow the retail item to be reordered just in time to arrive and replace sold through item, without having the stock depleted when customers are looking for it.
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