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

question 138

Multiple Choice

Which of the following BEST describes just-in-time inventory management?

• A) Production system that stores surplus goods at each stage of manufacture
• B) Inventory purchasing process that gains purchase discounts by buying in large quantities
• C) Production system that focuses on delivering materials and goods in exactly the right quantity when needed
• D) Inventory system which stockpiles raw materials to protect against supply interruptions

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Definitions:

Borrow

The act of receiving something of value in exchange for the promise to return it or its equivalent at a later date.

Credit Card Company

A financial institution that issues credit cards, extending credit for consumers to purchase goods and services with the promise of future repayment.

Service Charge

An additional fee charged for services rendered, often seen in the hospitality and banking industries.

Merchandise Sale

The process of selling goods that are purchased for resale, constituting a primary revenue source for retail businesses.