One of the Advantages of a Just-In-Time (JIT)inventory System Is

question 46

Multiple Choice

One of the advantages of a just-in-time (JIT) inventory system is ________.

• A)increased ordering and handling costs
• B)reduced contribution margin
• C)disintermediation
• D)pure transactional exchanges
• E)reduced warehousing costs

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Definitions:

Dutch Auction

A type of auction where the auctioneer starts with a high asking price which is lowered until some participant is willing to accept the auctioneer’s price, or a predetermined minimum price is reached.

Sealed-Bid Auction

A type of auction where all bidders simultaneously submit sealed bids without knowing the bids of other participants.

Reserve Price

The minimum price a seller is willing to accept for an item being sold at auction.

English Auction

A type of auction in which the price ascends as participants sequentially bid higher prices until only one bidder remains, who wins the item.