Walter has opened a custom shelving business and is concerned about the costs associated with storing the materials necessary to make the shelves and storing the finished products. Walter should consider using a method of production known as justintime (JIT) to help control his inventory costs.

Question

Walter has opened a custom shelving business and is concerned about the costs associated with storing the materials necessary to make the shelves and storing the finished products. Walter should consider using a method of production known as just­in­time (JIT) to help control his inventory costs.

Quizplus · Accepted Answer

Just-in-time (JIT) is a production method that involves receiving materials and producing products only as needed to meet customer demand, reducing the need for storage and inventory costs. Therefore, using JIT can help control inventory costs for Walter's custom shelving business.

Walter Has Opened a Custom Shelving Business and Is Concerned