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Explain the Just-In-Time Inventory System

question 28

Essay

Explain the just-in-time inventory system.Identify situations in which JIT tends to be effective and ineffective.


Definitions:

Cash Deficiency

A situation where a business or individual has insufficient cash to cover expenses or liabilities.

Planning Process

A systematic approach to setting goals and objectives, developing strategies, and outlining tasks and schedules to accomplish the goals.

Company's Past Performance

A review of a company's previous financial results and operations, usually analyzed to forecast future performance.

Communication Goals

Objectives that an individual or organization aims to achieve through communication efforts, including increasing awareness, influencing perceptions, or driving behavior changes.

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