Describe the Concept of "Just-In-Time" Inventory Systems

question 147

Essay

Describe the concept of "just-in-time" inventory systems.What are the advantages and disadvantages of the just-in-time system?

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Definitions:

SWOT Analysis

An acronym describing an organization’s appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats.

Accountability Analysis

The process of examining and evaluating the actions and decisions of individuals or organizations to ensure they are responsible for their outcomes.

Social Audit

A formal evaluation of an organization's impact on society, measuring it against certain ethical, social, or environmental standards.

Social Responsibility Programs

Corporate initiatives focused on improving societal well-being, including environmental, social, and economic aspects.