An inventory management strategy where the goal is to time the ordering of goods so they arrive just before when they are to be used,so as to reduce inventory holding costs is referred to as:
A)BTI
B)JIT
C)ITB
D)JITI

Question

Quizplus · Accepted Answer

JIT is a widely used inventory management strategy where the goods are ordered and arrive just before they are needed for production or sale, thereby reducing the inventory holding costs. This allows the company to minimize waste, avoid stockpiling, optimize production processes, and improve customer satisfaction by ensuring timely delivery. By implementing JIT, a company can reduce its inventory costs, increase the efficiency of its supply chain, and even improve the quality of its products or services. Hence, JIT is the best choice among the options given.

An Inventory Management Strategy Where the Goal Is to Time