When a Company Successfully Applies the Just-In-Time System, It Minimises

question 154

True/False

When a company successfully applies the just-in-time system, it minimises its inventory storage costs.

---

Definitions:

Ultimate End

The ultimate end refers to the final goal or objective that an action or series of actions is intended to achieve, often considered in philosophical contexts to discuss the purpose of life or actions.

Scatter Diagram

A graphical representation used in statistics to show the relationship between two variables, where each point on the diagram represents the values of two variables.

Production Quotas

Defined as the specific quantity of goods that a company aims to produce within a certain timeframe.

Compromise

A resolution or settlement of a disagreement achieved by both parties making compromises.