Which of the Following Is Not a Goal of JIT

question 84

Multiple Choice

Which of the following is not a goal of JIT partnerships?

• A) removal of unnecessary activities
• B) removal of in-plant inventory
• C) removal of in-transit inventory
• D) obtain improved quality and reliability
• E) All of the above are goals of JIT partnerships.

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Definitions:

Equity

Fairness; everyone gets his or her fair share. Since people can disagree about what is “fair,” equity is not as well defined a concept as efficiency.

Rational Decision

The choice made by logically considering all available information, potential costs, and benefits to achieve the optimal outcome.

Bounded Rationality

A concept suggesting that decision-making is limited by the information available, cognitive limitations of the mind, and the finite amount of time available to make a decision.

Opportunity Costs

The potential benefits or profits lost when choosing one alternative over another, representing the cost of forgone opportunities.