Just-In-Time Inventory Systems

question 7

Multiple Choice

Just-in-time inventory systems:

• A) are used only by manufacturing firms.
• B) provide a buffer stock of inventory for a company.
• C) are used to reduce inventory holding costs.
• D) save costs by outsourcing inventory management to other companies.
• E) always keep extra inventory on hand for emergencies.

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Definitions:

Competitive Move

An action taken by a company to strengthen its position in the market relative to its competitors.

Manufacturing Costs

The total expenses associated with the production of goods, including materials, labor, and overhead costs.

Marketing Costs

Expenses associated with promoting a company's goods or services.

Civil War

An internal conflict between groups within the same country, often over issues of governance, territory, religion, or ethnicity.