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During a Board meeting at a manufacturing company, concerns regarding the analysing of the current inventory management systems and processes are brought up.
Attendees of the meeting have made several claims and suggestions but the managing director admits that he does not know who to believe and so has asked you to let him know which statements of the following statements are TRUE?
Select ALL that apply.
Suggested Answer: C, D
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7 comments · newest first
CA
Catarina
12 months ago
Wait, are we sure about that JIT cost reduction? Sounds too good to be true.
FR
Freeman
1 year ago
ABC is definitely better for JIT systems!
TY
Ty
1 year ago
Standard costing isn't great for JIT, just saying.
SE
Sean
1 year ago
I disagree, economies of scale are more about bulk buying.
ME
Melvin
1 year ago
A JIT inventory system reduces inventory costs.
AN
An
1 year ago
This seems like a tricky one. I'll need to carefully weigh the options and think through the potential impacts.
DE
Dexter
1 year ago
Hmm, I'm a bit unsure about this one. The question mentions "acting in order to learn" and "trying something new", which could also apply to experimentation. I'll have to think this through carefully.