A Company Using Just-In-Time (JIT)logistics Carries Only Small Inventories and Uses

question 17

True/False

A company using just-in-time (JIT)logistics carries only small inventories and uses sophisticated forecasting along with flexibly delivery so that supplies of new stock arrive only when they are needed.

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Definitions:

Difficult to Estimate

Refers to a situation, value, or outcome that is challenging to predict or quantify accurately due to varying factors or complexities.

Doctrine of Mitigation

A legal principle that requires a party suffering loss due to a breach of contract to take reasonable steps to minimize the damage or loss.

Perishable Fruit

Food items that deteriorate quickly and require proper storage conditions to extend their shelf life.

Minimize Damages

Refers to efforts taken to reduce the severity or impact of damages or losses that occur, often in the context of legal disputes or insurance claims.