A Company That Utilizes Just-In-Time Inventory Eliminates the Need for Budgeting

question 100

True/False

A company that utilizes just-in-time inventory eliminates the need for budgeting.

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Definitions:

Algorithms

A step-by-step procedure or set of rules to be followed in calculations or problem-solving operations, especially by a computer.

Mechanical

Pertaining to objects, machines, or systems that operate or are produced by machinery and physical parts, often contrasted with electronic or digital.

Repetitive Mathematical Procedures

Algorithms or operations that are performed repeatedly, often to solve problems or accomplish tasks in mathematics.

Heuristic

A strategy or method used in problem-solving or decision-making that employs a practical approach based on experience and immediate judgment rather than a strict or formal process.