Read the passage below and summarize using one sentence. Type your response in the box at the bottom of the screen. You have 10 minutes to finish this task. Your response will be judged on the quality of your writing and on how well your response presents the key points of the passage.

'Just-in-Time:' is a method of manufacturing products which aims to minimize production time, production costs, and the amount of stock held in the supply chain. Each stage in the production process finishes just before the next stage is due to commence and therefore the lead time is significantly reduced. This approach requires careful planning and coordination between suppliers, manufacturers, and customers to ensure that materials and products are delivered exactly when needed, reducing the need for storage and minimizing waste. Just-in-Time is commonly used in industries such as automotive, electronics, and retail, where producing finished goods and making orders for them is required.