What Is the Ultimate Goal of a Just- In- Time

question 101

Multiple Choice

What is the ultimate goal of a just- in- time (JIT) inventory system?

• A)eliminate raw material inventory
• B)acquire firms that supply our inventory
• C)disintermediation
• D)reduce kanban

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Definitions:

P(Z < 2)

The probability that a value Z, on a standard normal distribution, is less than 2.

Normal Distribution

A bell-shaped probability distribution characterized by its mean and standard deviation, indicating that data close to the mean are more prevalent.

Standard Deviation

A statistic that measures the dispersion or variability of a dataset relative to its mean, indicating how spread out the data points are.

Normally Distributed

Describes a distribution of data that forms a bell-shaped curve, symmetrical about its mean, implying that mean, median, and mode are equal.