To reduce inventory management costs,many companies use a system called ________,which involves carrying only small inventories of parts or merchandise,often only enough for a few days of operation.
A)just in time (JIT)
B)supply chain management
C)value chain management
D)logistics management
E)enterprise resource planning (ERP)

Question

Quizplus · Accepted Answer

The system described in the question is the "just in time" (JIT) inventory management system, which aims to minimize inventory carrying costs by ordering and receiving inventory only as it is needed in the production process. This can result in lower storage costs, reduced waste, and better cash flow management.

To Reduce Inventory Management Costs,many Companies Use a System Called