Question

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. select one:

a. supply chain management

b. reduction-inventory management

c. just-in-time logistics

d. limited inventory logistics

Answer 1

The correct answer is C

Explanation:

• JIT stands for or termed as Just-in-Time (JIT) logistics, it is the system which is defined as the concept of receiving the products, the raw materials as well as the parts as they are required, instead of days or weeks before. This system allows the business to cut the costs of inventory through having fewer unnecessary supplies and less material to store.
• In short, this method or technique is designed for increasing the efficiency by cutting the costs as well as decrease the waste through receiving the goods only when required.
• So, the system which reduce the inventory management costs is referred to as Just-in- time logistic.

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