Just-in-Time (JIT) aims to produce and move only what the next process needs, exactly when it needs it, in the exact quantity. It is one of the two pillars of the Toyota Production System (with jidoka).
JIT depends on three enablers: a pull system (usually kanban), level production (heijunka), and continuous flow. Done well, it slashes inventory and lead time; done without stable processes, it is fragile.