JIT Requires Work-In-Process When Used with Kanban So There Is

question 50

True/False

JIT requires work-in-process when used with kanban so there is inventory to pull.When compared to synchronous manufacturing, this is viewed as a negative aspect of JIT.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share, often leading to limited competition.

Monopolistic Competitive

A market structure characterized by many firms selling products that are substitutes but differentiated from one another, leading to non-price competition.

Short Run

A period in economics during which at least one input, such as plant size, is fixed and cannot be changed by a firm.

Long Run

In economics, a period during which all factors of production and costs are variable, and firms can enter or exit the market.