The just-in-time (JIT) logistics costs in China were forecast to amount to over 170 billion yuan by 2020. JIT is a strategy of companies to order from suppliers only when orders from clients were received, so as to increase efficiency and reduce inventory costs.
Total costs of just-in-time logistics industry in China from 2013 to 2020
(in billion yuan)
*Estimates.
Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of September 2019).
According to Investopedia, just-in-time (JIT) inventory system is a management strategy aligning raw material orders from suppliers with the real time orders, for improved efficiency and reduction of inventory costs.
According to source, the order size includes the amount of the orders delivered by self-built system of platform-based companies and the amount of the orders stipulated by third-party logistics companies.
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iResearch. (August 9, 2019). Total costs of just-in-time logistics industry in China from 2013 to 2020 (in billion yuan) [Graph]. In Statista. Retrieved August 14, 2022, from https://www.statista.com/statistics/1051574/china-just-in-time-logistics-costs/
iResearch. "Total costs of just-in-time logistics industry in China from 2013 to 2020 (in billion yuan)." Chart. August 9, 2019. Statista. Accessed August 14, 2022. https://www.statista.com/statistics/1051574/china-just-in-time-logistics-costs/
iResearch. (2019). Total costs of just-in-time logistics industry in China from 2013 to 2020 (in billion yuan). Statista. Statista Inc.. Accessed: August 14, 2022. https://www.statista.com/statistics/1051574/china-just-in-time-logistics-costs/
iResearch. "Total Costs of Just-in-time Logistics Industry in China from 2013 to 2020 (in Billion Yuan)." Statista, Statista Inc., 9 Aug 2019, https://www.statista.com/statistics/1051574/china-just-in-time-logistics-costs/
iResearch, Total costs of just-in-time logistics industry in China from 2013 to 2020 (in billion yuan) Statista, https://www.statista.com/statistics/1051574/china-just-in-time-logistics-costs/ (last visited August 14, 2022)
