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10.07.2013 12:21


1) Just in time. Modern manufacturing/supply concept where, instead of holding stocks of materials/components etc, supplies are fed in only as immediately required.

Has benefit of reducing stock levels and costs of inventory, but requires efficient planning and execution (and relies on accurate, timely and reliable transport system) otherwise danger of 'stock-outs' and production stopping. See also TBL.

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.133 (288 p.)

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