May 18, 2014

Scenes from the JIT World

“Just in Time.” A lot of people don’t realize how this Lean Thinking concept can potentially rule their lives. I had a dramatic example of it a few days ago. First, JIT is a business philosophy that started in the manufacturing world, and has spread to retail, finance, and just about everywhere people try to pry a buck out of the economy. Simply put, JIT is a the concept that “inventory is bad.”