The Period of Time That Begins When an Item Is

question 61

Multiple Choice

The period of time that begins when an item is at its highest desired stocking level,continues as the item is used or sold,and ends when the item is replenished is known as

• A) Dead time
• B) Inventory cycle
• C) Lead time
• D) Shelf life

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Definitions:

JIT

Just-In-Time, a production strategy aimed at reducing in-process inventory and associated carrying costs by producing and delivering products just as they are needed.

Service Organizations

Entities that primarily offer intangible goods to consumers through the provision of services instead of physical products.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, such as cost, product differentiation, and market access.

5Ss

A Lean production checklist.