A Just-In-Time Inventory System

question 11

Multiple Choice

A just-in-time inventory system:
I.when implemented properly reduces the cost of inventory to zero.
II.increases the inventory turnover rate.
III.is sufficient to handle immediate production needs.
IV.minimizes the costs of holding inventory.

• A)I and III only
• B)II and IV only
• C)I, II, and IV only
• D)II, III, and IV only
• E)I, II, III, and IV

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Definitions:

Implementation

The process of putting a plan, decision, agreement, or idea into effect.

Evaluation

The systematic process of assessing or judging the value, performance, or effectiveness of a person, program, or object.

Needs Assessment

A systematic process used to determine and address the gaps between current conditions and desired conditions, often used in organizational and project planning.

Training Program Success

The effective measurement and achievement of learning outcomes and objectives as defined by a training program.