The Primary Characteristic of a Just-In-Time Inventory System Is That

question 278

True/False

The primary characteristic of a just-in-time inventory system is that suppliers deliver parts and materials right at the time that the buyer is going to use them in the production process.

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Definitions:

Money Income

The total income received by an individual or household in monetary form, including salaries, wages, and benefits.

Utility-maximizing

The approach by which individuals choose among available options to derive the greatest personal benefit or satisfaction.

Price Decreases

A reduction in the cost of goods or services, typically resulting from lower demand, increased supply, or external market factors.

Quantity of X

The amount or number of a product or service X available or demanded in a market.