Hey everyone. Welcome to this lecture, Introduction to Justin time. Let's begin with the first question. What is just in time, just in time is popularly known as gi T. It is a set of principles, tools and techniques that allows a company to produce and deliver products in small quantities with short lead times to meet specific customer needs. Simply put, just in time delivers the right items at the right time in the right amounts. The power of just in time is that it allows you to be responsive to the day to day shifts in customer demand, just in time is also one of the two key pillars of the Toyota Production System.

The other one is jidoka why Justin Most businesses use processes that are filled with waste, because work is performed in large batches, before it is needed by the next downstream process. This work in process must then be stored and tracked and maintained until needed by the downstream process, which leads to a waste of many resources, just in time delivers the right items at the right time in the right amount, eliminating the need to store, track and maintain any inventory of products. When just in time, just in time can be used for manufacturing as well as service industries. When your business process has a number of sub processes, when there are a number of handoffs when the raw materials go through a number of departments to turn into a finished product just in time can immensely help to ensure that any type and any amount of waste is effectively eliminated.

That brings us to the end of this lecture. In the next lecture, you will learn the origin story of just in time. It sounds so much like the origin story of any superhero. Well, just in time is no lesser than a superhero by the way. Now, let's go on to the next lecture. See you there.