Which One of the Following Is an Example of JIT

question 112

Multiple Choice

Which one of the following is an example of JIT being used for competitive advantage?

• A) Jones Company has decreased the number of job classifications to just a few.
• B) Lafourche Metals increases the number of its suppliers to be less dependent on just a few.
• C) Houma Fabricators is proud to announce that incoming goods are inspected.
• D) Acme Company tells its maintenance department to intervene only if a machine breaks down.
• E) Caro Specialty Metals, Inc. has built a new, huge warehouse to store inventory.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including materials and labor.

Product Costs

Costs that are directly associated with the manufacture of goods, including materials, labor, and manufacturing overhead.

Financial Reporting

Financial reporting involves the disclosure of financial results and related information to various stakeholders about a company's financial health and performance.

Merchandising Company

A business that purchases finished goods for resale to generate revenue, such as retailers.