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Briefly Describe JIT Inventory Control

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Essay

Briefly describe JIT inventory control.


Definitions:

Photo-prints

Photographic images produced on paper or other substrates from digital or film originals.

Industrial Photo-finishing

Refers to the commercial process of developing and printing photographic images on a large scale, typically for businesses.

Contribution Margin Ratio

The percentage of each sales dollar that remains after variable costs are subtracted, indicating how much contributes towards fixed costs and profit.

Break-Even Point

The level of sales or production at which a business's revenues exactly cover its expenses, leading to neither profit nor loss.

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