The JIT System

question 22

Multiple Choice

The JIT system:

• A) works to reduce lead times
• B) does not require a stable system
• C) does not require time fences
• D) are not based on lead times

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Definitions:

Negotiable Instrument

A written document signed by a person who makes an unconditional promise to pay a specific sum of money on demand or at a certain time to the holder of the instrument; an acceptable medium for exchanging value from one person to another.

Criminally Liable

The state of being legally responsible for the commission of a crime, subjecting the individual to criminal prosecution and penalties.

Corporate Officer

An executive or manager who holds a position of authority in a corporation, typically appointed by the board of directors.

Hostile Takeovers

Hostile takeovers are attempts by one company to acquire control of another company against the wishes of the target company's management and board of directors.