The Goal of JIT Production Is to Drive All Inventory

question 75

True/False

The goal of JIT production is to drive all inventory queues lower.

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Definitions:

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment relative to its cost.

Revenue Centre

A segment, division, or unit of a business responsible for generating revenue, focusing on sales activities rather than profit or cost efficiencies.

Performance Measure

An assessment tool used to evaluate the effectiveness and efficiency of an individual's or organization's actions.

Standard Cost Variances

The differences between the estimated costs of production and the actual costs incurred.