Improvements in Inventory Control Represent a Positive Technological Change Because

Improvements in inventory control represent a positive technological change because they allow firms to produce the same output with fewer inputs. In recent years, many firms have adopted an inventory system in which firms accept shipments from suppliers as close as possible to the time they will be needed. Wal-Mart has been a pioneer in using inventory control systems to this in its stores. This type of inventory system is called a ________ inventory system.

A) first-in-first-out
B) cash-and-carry
C) just-in-time
D) buy-now-pay-later