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.

Learn new Accounting Terms

COGM is Cost Of Goods Manufactured. See COST OF GOODS SOLD.

DIRECTORS REPORT is written by the Directors of a company and forms part of the companys financial statements. This report must support and elaborate on the information contained in the Income Statement, Balance Sheet and Source and Application of Funds Statement.

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