JIT Systems Work Well, Even When Suppliers Are Located Far

question 232

True/False

JIT systems work well, even when suppliers are located far away and sell to many similar manufacturers.

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Definitions:

Quality Control

The procedures and processes used to ensure that a product or service meets a specified set of quality criteria or standards.

Inventory Storage

The process and facilities used to keep goods stocked and maintained until they are sold or distributed.

Equivalent Units

A concept in cost accounting that converts partially completed units of production into a number of fully completed units for inventory valuation.

Units Transferred Out

Refers to the number of units moved from one production process to the next or finished goods completed during a period.