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

question 115

Multiple Choice

Which 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.
• E)A firm acquires inventory only once customers have placed orders for their product.

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Definitions:

Operant Behavior

Behavior that is controlled or influenced by its consequences, including rewards and punishments, in the context of learning.

Immediate Reinforcers

Rewards that occur directly following a behavior, increasing the chance of that behavior being repeated.

Partial Reinforcer

A reinforcement strategy in which only a portion of responses are rewarded, aimed at strengthening behavior.

Primary Reinforcer

An innately reinforcing stimulus, such as one that satisfies a biological need (e.g., food, water, shelter).