Inventories and Accounts Receivable Are the Assets Most Commonly Used

question 123

True/False

Inventories and accounts receivable are the assets most commonly used as collateral for short-term financing.

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Definitions:

JIT

Just-In-Time, an inventory management strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

TPS

Toyota Production System, a manufacturing methodology focused on reducing waste and improving efficiency and quality.

Lean Systems

Lean systems are management philosophies that focus on minimizing waste within manufacturing systems while simultaneously maximizing productivity.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, including cost structure, product offerings, brand, and customer service.