💡 The Just-in-Time (JIT) method is a managerial accounting concept focused on minimizing inventory levels by producing or acquiring goods only as they are needed for production or sales. The goal of JIT is to achieve low or no inventory, which reduces storage costs, minimizes waste, and improves efficiency.In the JIT system: Inventory is kept at a minimum, and materials are ordered just in time for production. This approach requires precise coordination with suppliers and efficient production processes to avoid delays.