Just-In-Time (JIT)inventory Systems

question 112

Multiple Choice

Just-in-time (JIT) inventory systems

• A)result in a greater number of suppliers for each production process.
• B)focus on a "push" type of production system.
• C)can only be used with automated production processes.
• D)result in inventories being either greatly reduced or eliminateD.

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Definitions:

Standard Deviation

An approach to quantifying how much a group of numbers disperses or varies from each other.

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of values.

Median

The median is the middle value in a list of numbers sorted in ascending or descending order, splitting the dataset into two halves.

Standard Deviation

A statistic that measures the dispersion or variance in a set of values, indicating how spread out the numbers are from the average.