The philosophy of the ________ is that a firm would have only work-in-process inventory.
A) basic economic order quantity system
B) materials requirement planning system
C) just-in-time system
D) LIFO method

Question

Quizplus · Accepted Answer

The philosophy of the just-in-time system is to have only work-in-process inventory and to receive materials and produce goods only when they are needed, reducing inventory carrying costs and improving production efficiency. The other options (A, B, and D) do not solely focus on reducing inventory levels and improving production efficiency like the just-in-time system does.

The Philosophy of the ________ Is That a Firm Would