Just-In-Time (JIT) Production Was a Major Breakthrough in Manufacturing Philosophy

question 18

True/False

Just-in-time (JIT) production was a major breakthrough in manufacturing philosophy pioneered by the Japanese.

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Definitions:

Salvage Value

The projected remaining worth of an asset after its lifespan has ended.

Net Operating Income

The profit a company makes from its core operations, excluding expenses and revenues from non-operating activities.

Payback Period

The length of time required to recover the original investment in a project or asset, based on its expected cash flows.

Required Rate

The minimum return that investors expect or the company specifies for an investment, project, or loan.