The ____________is an inventory management technique that minimizes inventory investment by having materials inputs arrive at exactly the time they are needed for production.
A) ABC system
B) JIT system
C) EOQ model
D) MRP system

Question

Quizplus · Accepted Answer

JIT (Just-In-Time) system is an inventory management technique that ensures raw materials are delivered to production as and when they are needed. The goal is to minimize inventory investment and waste while increasing efficiency in the production process. This system results in better cash flow as inventory levels and holding costs are reduced. The ABC system, EOQ model, and MRP system do not necessarily focus on minimizing inventory investment and improving efficiency in the production process.

The ____________Is an Inventory Management Technique That Minimizes Inventory Investment