One of the Traditional Reasons for Holding Inventory Is to Avoid

question 57

Multiple Choice

One of the traditional reasons for holding inventory is to avoid shutdowns due to unavailability of materials. The JIT solution is to

• A)reduce setup costs.
• B)reduce lead time.
• C)use long-term contracts with suppliers.
• D)use total preventive maintenance.

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Definitions:

Allocentric

An adjective describing perspectives or spatial representations not centered on the observer, but instead based on the environment or objects within it.

Egocentric

A perspective where an individual interprets the world solely from their own viewpoint, often neglecting or misunderstanding others' perspectives.

Three-dimensions

Pertaining to objects or spaces that have height, width, and depth, allowing them to be experienced or described in a fuller, more realistic manner.

Cole and Scribner

Researchers who studied the influence of culture on memory and cognition, demonstrating differences in memory strategies between schooled and unschooled populations.