When Suppliers Are Encouraged to Locate near Manufacturing Plants, the Goal

question 15

Short Answer

When suppliers are encouraged to locate near manufacturing plants, the goal of the JIT partnership is to reduce ________ inventory.

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Definitions:

Primarily Liable

Being the first or main party responsible for fulfilling a debt or obligation.

Secondarily Liable

Pertains to a party that holds liability not as the primary party responsible but as a backup in case the primarily liable party fails to fulfill their obligations.

Personally Liable

The state of being legally responsible for debts or obligations out of personal assets, not limited to business or corporate assets.

Agent

An individual or entity authorized to act on behalf of another in legal or business matters.