What system is designed to minimize excess inventory and waste in the supply chain?

The system that is specifically designed to minimize excess inventory and waste in the supply chain is Just-in-Time (JIT). JIT focuses on producing and delivering products in a timely manner, which means that items are received or produced only as they are needed in the production process. This approach effectively reduces the amount of inventory held at any given time, helping to decrease storage costs and minimize waste from products that might become obsolete or perishable.

By synchronizing production schedules with demand, JIT helps organizations streamline their operations. This leads not only to lower inventory costs but also to improved product quality, enhanced efficiency, and the ability to respond quickly to changing market conditions. Overall, JIT serves as a powerful strategy for companies aiming to optimize their supply chain management, ensuring that resources are utilized more effectively and waste is kept to a minimum.