Asked by Zachary Summach on Jun 04, 2024
Verified
Under just-in-time (JIT)inventory systems, manufacturers shifts the task of maintaining inventory to their suppliers, who in turn shift it to their own suppliers.
Just-In-Time
An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.
Inventory Systems
are methodologies and procedures used by businesses to track, manage, and plan for current and future inventory and stock levels.
- Master the assorted theories of inventory management, encompassing economic order quantity, safety stock, JIT systems, and their impact on a corporation’s cash reserves and efficiency in conducting operations.
Verified Answer
Learning Objectives
- Master the assorted theories of inventory management, encompassing economic order quantity, safety stock, JIT systems, and their impact on a corporation’s cash reserves and efficiency in conducting operations.
Related questions
Working Capital Accounts Are Funds That Are Committed to Support ...
Define and Briefly Discuss the ABC, EOQ, Materials Requirements Planning ...
The Economic Order Quantity Method of Inventory Management Identifies the ...
MRPII Will Not Allow an Organization to Integrate Financial Planning ...
A DRP System Is Usually Coupled with a _____ System ...