How is JIT purchasing done?
A)using short-term contracts emphasizing price
B)using long-term contracts based on quality,reliability,and price
C)using short-term contracts based on quality,reliability,and price
D)using inventory to hedge against stockouts and price increases

Question

Quizplus · Accepted Answer

JIT (Just-In-Time) purchasing focuses on minimizing inventory and reducing costs by establishing long-term contracts with suppliers. These contracts emphasize quality, reliability, and price to ensure a steady, reliable flow of materials as needed, without the need for large inventories.

How Is JIT Purchasing Done