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A Just-In-Time System of Inventory Control Requires That Manufacturers Coordinate

question 62

True/False

A just-in-time system of inventory control requires that manufacturers coordinate production with suppliers so that the raw materials or components arrive just as they are needed in the production process. 


Definitions:

Incentive

An incentive is a motivational factor or reward that encourages people to perform an action or adopt a behavior.

Room And Board

A combination of housing (room) and meals (board) typically provided as part of compensation or in a collegiate setting.

Scarce Resources

Natural, human, and man-made inputs that have limited availability and are used for the production of goods and services.

Efficiency

The optimal use of resources to achieve the desired outcome with minimum waste or effort.

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