The basic philosophy behind ____________ is to economize on inventory holding costs by having materials arrive at a manufacturing plant when needed to enter the production process?

Question

Quizplus · Accepted Answer

The basic philosophy behind just-in-time (JIT) is to reduce or eliminate inventory holding costs by having materials arrive at a manufacturing plant just in time to enter the production process. JIT is a lean manufacturing strategy aimed at reducing waste and improving efficiency. Management by objectives, reengineering, total quality management, and CAD/CAM are all different management approaches that emphasize different aspects of organizational performance and innovation, but they are not specifically focused on inventory management like JIT.

The Basic Philosophy Behind ____________ Is to Economize on Inventory