Inventory Levels Can Be Dramatically Reduced Through Just-In-Time Production,but Suppliers

question 53

True/False

Inventory levels can be dramatically reduced through just-in-time production,but suppliers need to be in close physical proximity for this to work.

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Definitions:

Completely New Market

An entirely untapped or recently created market space that has not been served by existing products or services.

Early Adopters

Individuals or businesses who use or adopt new products, services, or technologies early in their life cycle, often influencing others in their purchasing decisions.

Opinion Leaders

Influential members of a community or group whose advice or example significantly influences others' attitudes or behaviors.

Diffusion of Innovation

The process by which a new idea, product, or behavior spreads through a population or social system over time.