Where it sits in the pipeline
JPEG splits the image into 8 × 8 blocks and transforms each one into 64 coefficients describing how much of each wave pattern the block contains — from flat, through gentle gradients, to fine alternating detail. That transform is fully reversible and loses nothing.
Then quantization: each of the 64 coefficients is divided by the value in the corresponding position of the table, and the result is rounded to a whole number.
The rounding is irreversible, and it is the entire lossy component of JPEG. Everything after it — the zig-zag reordering and the entropy coding — is lossless packing.