The Just-In-Time Production System Is a Total System Concept That

question 157

Multiple Choice

The just-in-time production system is a total system concept that takes cultural environment,managerial practice,and support of the workforce into account.Which one of the following statements regarding the basic philosophy of JIT systems is TRUE?

• A) Sufficient amounts of natural resources are the main element for the successful implementation of JIT systems.
• B) For managers, a high level of inventory is regarded as the main resource that they can utilize for flawless operation of the manufacturing system.
• C) The JIT system eliminates buildup of inventories by coordinating the flow of materials between processes.
• D) One of the few disadvantages of a JIT system is the large storage area requirement for inventory.

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Public Park

An area of open space provided for recreational use, usually owned and maintained by a city or national government.

Marginal Social Benefit

The additional benefit received by society from the consumption of one more unit of a good or service.

Public Park

A plot of land set aside by a government or community for recreational use by the public, often maintained with public funds.

Socially Optimum

A condition in economics where the allocation of resources maximizes the overall utility or welfare of society.