Which of the Following Is the Major Benefit to a Firm

question 58

Multiple Choice

Which of the following is the major benefit to a firm of using just-in-time inventory management?

• A) minimizes the risk of stock-outs
• B) minimizes the total number of orders that the firm places
• C) reduces acquisition costs for placing goods in inventory
• D) largely eliminates the carrying costs of maintaining a large inventory

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Definitions:

Experiments

Research methods involving the manipulation of one or more variables to determine their effect on a certain outcome, typically to establish cause-and-effect relationships.

Overconfidence

A cognitive bias characterized by an individual's overestimation of their knowledge, ability, or access to information.

Cross-examining

The process of questioning a witness who has already testified in order to test or check the accuracy of that testimony.

Eyewitness

An individual who directly observes an event or crime and can provide testimony or information regarding what they saw.