ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What does the term JIT mean?
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Just In Case
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Just In Time
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Just in Transport
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None of the above
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Explanation:
Detailed explanation-1: -What is Just-in-Time (JIT)? Just-in-time, or JIT, is an inventory management method in which goods are received from suppliers only as they are needed. The main objective of this method is to reduce inventory holding costs and increase inventory turnover.
Detailed explanation-2: -Just-in-time manufacturing (JIT manufacturing) is a production model in which items are created to meet demand, not created in surplus or in advance of need. Organizations adopt the JIT approach to increase efficiency, reduce costs and speed up product delivery.
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