How do you implement a JIT system to reduce inventory holding costs and improve cash flow?
Inventory holding costs are a major expense for many businesses, especially those that deal with perishable, seasonal, or high-demand products. They can eat up your cash flow and reduce your profitability. One way to minimize inventory holding costs and improve cash flow is to implement a just-in-time (JIT) system. A JIT system is a method of inventory control that aims to deliver the right amount of goods at the right time, reducing the need for excess stock and storage space. In this article, you will learn how to implement a JIT system in six steps.
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