The philosophy of the ________ is that the 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) red-line method

Question

Quizplus · Accepted Answer

The philosophy of the just-in-time system is to minimize inventory levels and have only work-in-process inventory. This system focuses on producing goods as they are demanded, rather than producing excess inventory. The basic economic order quantity system and materials requirement planning system both involve maintaining inventory levels, and the red-line method is not a commonly used inventory management system.

The Philosophy of the ________ Is That the Firm Would