Which of the Following Correctly Describes Just-In-Time (JIT)inventory Management

question 153

Multiple Choice

Which of the following correctly describes just-in-time (JIT) inventory management?

• A)It is a production approach that maintains surplus goods at each stage of manufacture.
• B)It is an inventory purchase approach that seeks purchase discounts on buying large quantities.
• C)It is a cost management approach that focuses on maintaining lean inventory levels.
• D)It is an inventory approach which stockpiles raw materials to protect against supply interruptions.

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Definitions:

Communist Party

A political party advocating the principles of communism, including the abolition of private property and the establishment of a society where goods are owned communally and available to all.

Capitalism

An economic system where private individuals own and control property in accord with their interests, and the distribution and production of goods are determined mainly by competition in a free market.

Depression

A prolonged period of severe economic downturn characterized by significant declines in income, employment, production, and sales.

Popular Front

A broad coalition of different political groups united for a common cause, often used to refer to leftist alliances.