A Just-In-Time (JIT) System Minimizes Inventory Cost for the Company

question 45

True/False

A just-in-time (JIT) system minimizes inventory cost for the company but increases inconvenience in the form of noise, traffic, and air pollution for the community at large.

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Definitions:

Human Right

A right that is believed to belong justifiably to every person, encompassing basic freedoms and protections that should be upheld by all societies.

Security Laws

Regulations designed to protect investors, ensure fair market operations, and prevent financial frauds, governing the trade of stocks, bonds, and other securities.

Internet Growth

The rapid expansion of internet accessibility, usage, and technology developments, leading to widespread changes in communication, commerce, and information sharing globally.

Living Wage

A wage level that enables an employee to afford a basic but decent standard of living, considering the cost of living in their area.