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With a JIT System, Inventory, Production Resources, and Finished Products

question 56

True/False

With a JIT system, inventory, production resources, and finished products are limited to the right number at the right time as required to fill orders.


Definitions:

Availability Heuristic

A quick mental approach that depends on the first examples that are thought of when assessing a particular subject, idea, technique, or choice.

Critical Thinking

The ability to analyze facts, generate and organize ideas, defend opinions, make comparisons, draw inferences, evaluate arguments and solve problems.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Framing Effect

The influence on decision making caused by the way information is presented, rather than the actual information itself.

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