JUST-IN-TIME Definition

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JUST-IN-TIME (JIT) is a management philosophy that strives to eliminate sources of manufacturing waste and cost by producing the right part in the right place at the right time.

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ENCRYPTION is the scrambling of data so that it is meaningless to anyone but the intended recipient, who has the key to unscramble the data to its original form.

TERM LOAN is a bank loan, typically with a floating interest rate, for a specified amount that matures in between one and ten years and requires a specified repayment schedule.

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