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What Is a Just-In-Time Inventory System? What Are the Implications

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Essay

What is a just-in-time inventory system? What are the implications of JIT for firms that use global sourcing?


Definitions:

Record Integrity

Ensuring that records are accurate, consistent, and maintained in such a way that their completeness and original state are preserved over time.

ERP

Enterprise Resource Planning, a category of business management software that integrates various functions of an organization, including finance, supply chain, HR, and operations.

Efficient Consumer Response

A strategy aimed at improving the supply chain and retail performance through closer collaboration between suppliers and retailers to better serve consumers.

Grocery Industry

A sector of the economy focused on the retailing of food and supermarket-based products, including the distribution and sale of fresh, frozen, and canned foods.

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