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JIT

abbrev. Just-In-Time Inventory System.

Joint Demand

a situation in which demand for a product rises and falls with demand for another product with which it is used.

Joint Venture

a risk-reducing method of market entry in which two firms combine forces to manufacture or market a product; a method of entry into a foreign market in which a firm joins with an overseas company to establish a partnership for the production and marketing of its product abroad.

Judgment Sample

a type of non-probability sample used in gathering primary data in marketing research; the sample is drawn from those whom the market researcher judges to be knowledgeable about the subject. See Probability Sample; Non-Probability Sample.

Jury of Executive Opinion

a forecasting method based on the opinions of senior management.

Just-In-Time Inventory System

an inventory control method, devised in Japan, for keeping inventory costs to a minimum; supplies are ordered frequently, but in relatively small quantities. Also known as Kanban.

Just-In-Time Purchasing

see Just-In-Time Inventory System.

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