In a Just-In-Time Inventory System, Suppliers

question 217

Multiple Choice

In a just-in-time inventory system, suppliers:

• A) deliver materials and parts in large quantities only a few times a year.
• B) enjoy much lower delivery costs.
• C) have a great deal of flexibility in determining when to make deliveries.
• D) become more like a department in the producing firm rather than a separate business.

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Definitions:

Quantity

The amount or number of a product or service available for purchase or sale.

Units

Basic quantities or measurements used to express a variable or quantity in a specific context, such as units of currency or units of measurement.

Monopolistic Competition

A market structure in which many firms sell products or services that are similar but not identical, allowing for some degree of market power and product differentiation.

Non-price Competition

A strategy where businesses compete on factors not related to price, such as product quality, service, or brand reputation.