What of the Following Best Describes Just-In-Time Inventory Management

question 38

Multiple Choice

What of the following best describes just-in-time inventory management?

• A) Inventory is maintained as a buffer to meet uncertainties in demand, supply, and movements of goods.
• B) Production inefficiencies arising when production capacity stands idle for lack of materials are minimized by holding a small stock of essentials at all times.
• C) A firm acquires inventory precisely when needed so that its inventory balance is always at, or close to, zero.
• D) A firm minimizes the time lags present in the supply chain by maintaining a certain amount of inventory to use in these lag times.

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Definitions:

Flow of Information

How data, facts, or messages move and are exchanged between entities or components within a system.

Bowen Family Therapy

A reiteration of Bowenian Family Systems, focusing on intra-family relationships and the complex interplay of emotional forces within the family unit that influence behavior and emotional health.

Differentiation of Self

A concept in psychology that describes an individual's ability to maintain their own sense of self while staying emotionally connected to others.

Cybernetics

An interdisciplinary field that studies the structure, constraints, and possibilities of regulatory systems and their complex interactions.