Answer :
Final answer:
JIT production is a system where raw materials are bought only when needed, reducing inventory costs and enhancing efficiency.
Explanation:
JIT production stands for Just-In-Time production, a system in which companies purchase raw materials only when needed. This practice helps reduce the need for large inventories and minimizes costs associated with inventory management.
By implementing JIT production, companies aim to streamline their operations, improve efficiency, and enhance the overall quality of their products by receiving materials exactly when they are necessary for production.
For firms looking to optimize their supply chain management and prioritize quality control processes, adopting a JIT system can lead to increased productivity and cost savings.
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