Discuss the Concept of Just-In-Time (JIT) Manufacturing

question 69

Essay

Discuss the concept of just-in-time (JIT) manufacturing. What is its importance to business?

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Definitions:

Lumber Prices

The cost or price of wood or timber, which can fluctuate based on factors like supply and demand, environmental regulations, and economic conditions.

Home Construction

The process of building residential structures, such as houses and apartments, often involving design, planning, and assembly of materials.

Demand

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Supply

The total amount of a product or service that is available for purchase at any given price.