Just-In-Time (JIT) Production Was a Major Breakthrough in Manufacturing Philosophy

question 18

True/False

Just-in-time (JIT) production was a major breakthrough in manufacturing philosophy pioneered by the Japanese.

---

Definitions:

Net Loss

The amount by which expenses exceed revenues over a specific period, indicating a negative financial performance.

Target Profits

The specific amount of net income a company aims to achieve within a certain time frame.

Variable Expenses

Costs that vary in direct proportion to changes in the level of activity or production volume.