Asked by Nacole Watkins on May 09, 2024
Verified
Manufacturers that use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent a(n) ________ in a SWOT analysis.
A) weakness
B) opportunity
C) threat
D) strength
E) metric
Just-In-Time Manufacturing
An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, reducing inventory costs.
SWOT Analysis
A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
Inventory Costs
Inventory costs are expenses related to holding and managing goods for sale, including storage, insurance, and loss from unsold items.
- Appreciate the necessity of undertaking a SWOT analysis in the context of strategic planning.
Verified Answer
AH
Ayesha HussainMay 15, 2024
Final Answer :
A
Explanation :
The badly managed just-in-time system resulting in frequent manufacturing delays due to missing parts represents a weakness in the SWOT analysis.
Learning Objectives
- Appreciate the necessity of undertaking a SWOT analysis in the context of strategic planning.