Question

    An inventory strategy employed by companies to increase

    efficiency and decrease waste by receiving goods only as they are needed in the production process is called-    
    A Inventory Efficiency Process Correct Answer Incorrect Answer
    B Just In Time Correct Answer Incorrect Answer
    C Fist In First Out Correct Answer Incorrect Answer
    D Last In First Out Correct Answer Incorrect Answer
    E Instant Inventory Management Correct Answer Incorrect Answer

    Solution

    Just-in-time inventory control has several advantages over traditional models. Production runs remain short, which means manufacturers can move from one type of product to another very easily. This method reduces costs by eliminating warehouse storage needs. Companies also spend less money on raw materials because they buy just enough to make the products and no more.

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