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What are the three main characteristics of the modern nation-state? Describe each in one sentence.
Just in Time
The Just in Time (JIT) methodology is an inventory management strategy that aims to reduce waste and increase efficiency by receiving goods only as they are needed in the production process.
Suppliers
Entities or individuals that provide goods or services to other entities or individuals, typically within a business or manufacturing process.
Short-term Financing
Refers to the obtaining of loans or other monetary support for a period of typically less than one year, to address immediate financial needs.
Long-term Financing
Funding obtained for a time frame exceeding one year in duration, typically used for acquiring or investing in assets that have a long useful life.
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