Just-in-Time is the principle of producing and delivering exactly what is needed, in the quantity needed, at the time it is needed. JIT is one of the two pillars of the Toyota Production System (the other is jidoka).
JIT minimises inventory and lead time, but at the same time makes the chain sensitive to disruptions — there are no buffer stocks to draw on. That is why JIT presupposes stable processes, reliable suppliers and short changeover times.
After the supply crises of the 2020s, many companies balance JIT with strategic buffers on critical components — the principle is not “zero inventory”, but “deliberate inventory”.