JIT Philosophy Tries to Eliminate Work-In-Process Inventory Because

question 67

Multiple Choice

JIT philosophy tries to eliminate work-in-process inventory because:

• A) of the savings in capital requirements.
• B) inventory covers up recurring problems.
• C) it frees up space for kanban storage bins.
• D) dependency on suppliers should be increased.
• E) all of the choices are true.

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Definitions:

Social Security

A government program designed to provide financial assistance to the elderly, disabled, and survivors within a society.

Pensions

Retirement plans that require an employer to make contributions into a pool of funds set aside for a worker's future benefit, which is then paid out to the worker upon retirement.

Retirement

The phase of life where an individual ceases full-time employment, typically associated with reaching a certain age or financial status.

Benefit Packages

A collection of non-wage compensations provided to employees on top of their normal salaries, which may include health insurance, retirement plans, vacation, and other perks.