Explain an Advantage of Using the JIT Inventory System

question 37

Essay

Explain an advantage of using the JIT inventory system. Explain a disadvantage of using this system.

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Definitions:

High Deductible

A health insurance plan feature requiring a higher out-of-pocket payment before insurance coverage begins.

Co-Payments

Fixed amounts paid by an insured person for covered services, in addition to what the insurance covers.

Pizza Buffet

A dining establishment offering an all-you-can-eat selection of pizzas along with possibly other foods and beverages, for a set price.

Flat Rate

A fixed charge or fee that does not vary with the quantity of the service or goods provided.