Which of the Following Best Describes the Two Key Drivers

question 19

Multiple Choice

Which of the following best describes the two key drivers in a just-in-time inventory system?

• A)The just-in-time inventory control requires firms to maintain little to no inventory; however, it requires total quality management in all areas of operations.
• B)The just-in-time inventory control requires firms to maintain large amounts of inventory; however, it requires total quality management in all areas of operations.
• C)The just-in-time inventory control requires firms to maintain little to no inventory because it requires virtually no total quality management in all areas of operations.
• D)The just-in-time inventory control requires firms to maintain little to no inventory and large accounts payable.

---

Definitions:

Exponential Distribution

A continuous probability distribution used to model the time between events in a Poisson process, describing scenarios where events happen continuously and independently at a constant average rate.

One Parameter

Refers to statistical models or distributions that are characterized by a single variable that defines their behavior or shape.

Probability Distribution

A mathematical function that calculates the likelihood of various possible results in an experiment.

Uniformly Distributed

A distribution where all outcomes are equally likely across the range of the distribution.