The ________ Is an Inventory Management Technique That Minimizes Inventory

question 264

Multiple Choice

The ________ is an inventory management technique that minimizes inventory investment by having materials inputs arrive at exactly the time they are needed for production.

• A) ABC system
• B) EOQ model
• C) MRP system
• D) JIT system

---

Definitions:

Income Statement

A financial report that shows a company's revenues, expenses, and net income over a specific period, indicating its profitability.

Indirect Labor

Labor costs associated with the support work of producing a product or providing a service, not directly involved in the active manufacturing or service delivery process.

Machine Operators

Individuals responsible for setting up, operating, and maintaining machines used in the manufacturing or production process.

Period Costs

Costs that are expensed in the period in which they are incurred, not directly tied to the production process.