Which of the following correctly describes Just-in-Time (JIT)Management?
A) It is a production approach that maintains surplus goods at each stage of manufacture.
B) It is an inventory purchase approach that seeks purchase discounts on buying large quantities.
C) It is a cost management approach that focuses on maintaining lean inventory levels.
D) It is an inventory approach that stockpiles raw materials to protect against supply interruptions.

Question

Quizplus · Accepted Answer

Just-in-Time (JIT) management is a cost management approach that focuses on maintaining lean inventory levels. JIT focuses on producing goods and services just in time to meet demand, minimizing inventory costs and waste. This approach is based on the principle of reducing inefficiencies and eliminating waste in the production process. Thus, the correct choice is C.

Which of the Following Correctly Describes Just-In-Time (JIT)Management