The Just-In-Time Concept Requires Very Low Inventories but Fast, On-Time

question 155

Multiple Choice

The just-in-time concept requires very low inventories but fast, on-time delivery. When must parts needed for production arrive from suppliers?

• A)one week before they are needed
• B)neither before nor after they are needed
• C)at least the day before they are needed
• D)three to four days before they are needed

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Definitions:

Independent Agents

Salespeople who sell a manufacturer’s products on an extended contract basis but are not employees of the manufacturer; also known as manufacturer’s representatives or reps.

Selling Company

A company or entity that is engaged in the act of selling goods, services, or both to consumers or other businesses.

New Buy

A purchase decision where a customer is buying a product or service for the first time, requiring significant research and evaluation.

Modified New Buy

A purchasing situation wherein a company makes some changes or modifications to a product they are buying again.