The JIT Approach to Inventory Management

question 29

Multiple Choice

The JIT approach to inventory management

• A)allows greater flexibility as to when products can be manufactured.
• B)results in higher inventory levels but reduces ordering and setup costs.
• C)results in lower inventory carrying costs.
• D)none of these.

Describe survivorship curves and their relevance to life history strategies.

Understand different survivorship curves and their implications for species survival strategies.

Identify and contrast characteristics of r-selected and K-selected species.

Describe the concept of carrying capacity and factors that influence it.

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Definitions:

FMI

Failure Mode Identifier, a diagnostic code in automotive and machinery industries indicating the type of failure in a system.

DLCs

Downloadable Content; additional content created for an existing video game, distributed through the internet.

J1939

A standard for communication and diagnostics among vehicle components, primarily in the commercial vehicle industry, facilitating inter-system interoperability.