A broad management philosophy that reaches beyond the narrow activity of inventory control to affect the entire system of production and operations management is referred to as:
A) A periodic inventory system
B) A perpetual inventory system
C) A Just-in-time system
D) Vendor-managed system

Question

Quizplus · Accepted Answer

Just-in-time system is a broad management philosophy that affects the entire system of production and operations management, including inventory control. It emphasizes the importance of producing only what is needed, when it is needed, and in the amount needed, thereby reducing waste and increasing efficiency. This approach involves close coordination between suppliers and customers and requires a high level of trust and communication. A periodic inventory system and a perpetual inventory system are both inventory tracking methods, while a vendor-managed system refers to a system in which the vendor manages the inventory for the customer.

A Broad Management Philosophy That Reaches Beyond the Narrow Activity