Instructions: Identify the Following

question 52

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Southern Strategy

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Definitions:

Just-In-Time (JIT)

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs, delivering materials just when they are needed.

Customer Wants

Specific desires or requirements of consumers that businesses aim to meet with their products or services in order to satisfy and retain their clientele.

JIT Environments

Settings or conditions where Just-In-Time inventory management and production practices are implemented to minimize inventory costs and waste.

Demand Rate

The rate at which goods or services are requested or needed by consumers in a given market or period.