The Principle of Having Just Enough Inventory on Hand to Meet

question 1

Multiple Choice

The principle of having just enough inventory on hand to meet immediate production needs with no reserve stock is called:

• A) The no-inventory system.
• B) Physical distribution quality system.
• C) The onesie transaction system.
• D) Just-in-time system.
• E) No stock-out system.

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Definitions:

Big Box Retailer

A retail store that occupies a large amount of physical space and offers a variety of products to consumers, often part of a chain.

Sunflower Seeds

The seeds of the sunflower plant, used as a food source and for producing oil, known for their nutritional value including healthy fats, protein, fiber, and vitamins.

Lost Sale

A situation where a business misses the opportunity to sell a product or service due to stockouts, mismatched pricing, or other sales process failures.

Markdowns

Reductions from the original or retail price of goods, typically used to clear out inventory and stimulate sales.