To Develop the Close Coordination Needed for Just-In-Time (JIT)inventory Control

question 12

Multiple Choice

To develop the close coordination needed for just-in-time (JIT) inventory control systems,manufacturers tend to rely on one supplier.Based on which criterion is the supplier selected?

• A) Lowest item-by-item cost
• B) The ability to be flexible
• C) Product quality
• D) Size of operation
• E) Lowest overall cost

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Definitions:

Null Hypothesis

A default hypothesis that there is no significant difference or effect, often denoted as H0, to be tested against an alternative hypothesis.

Pay Equity

A principle of employee compensation where individuals are paid equally for work of equal value, without discrimination based on gender or other factors.

Simple Random Sample

A subset of a statistical population in which each member has an equal probability of being chosen.

Faculty Members

Individuals who are members of the teaching or academic staff at an educational institution.