To Reduce Inventory Management Costs,many Companies Use a System Called

question 63

Multiple Choice

To reduce inventory management costs,many companies use a system called ________,which involves carrying only small inventories of parts or merchandise,often only enough for a few days of operation.

• A)just in time (JIT)
• B)supply chain management
• C)value chain management
• D)logistics management
• E)enterprise resource planning (ERP)

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Definitions:

Self-concept

An individual's perception of themselves, encompassing beliefs, feelings, and thoughts about one’s identity and capabilities.

Life Review

The reflection on past experiences and one’s life, permitting greater self-understanding and the assignment of meaning to their lives.

Cognitive Appraisal

The process by which an individual evaluates and interprets an event or situation to determine its significance for their personal well-being.

Life Satisfaction

A subjective assessment of one's overall wellbeing and contentment with life, considering various aspects such as health, relationships, and achievements.