Question 1. What is JIT?

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Textbook Question

Chapter 16, Problem 2DQ

Question

1. What is JIT?

Expert Solution & Answer

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

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Answer 2

Textbook Question

Chapter 16, Problem 2DQ

Question

1. What is JIT?

Expert Solution & Answer

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

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Answer 3

Textbook Question

Chapter 16, Problem 2DQ

Question

1. What is JIT?

Expert Solution & Answer

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 16, Problem 2DQ

Question

1. What is JIT?

Expert Solution & Answer

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

Answer 8

Expert Solution & Answer

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Summary Introduction

To Explain: Just in Time.

Introduction: JIT is known as Just in time and is a popular approach which is widely used in many industries to cut the cost and expenses. It is a technique which aims to reduce inventory and achieve maximum cost reduction.

Answer 12

Explanation of Solution

JIT:

A manufacturing method that company uses to reduce wastes and improves efficiency by obtaining the materials only when they are needed for production. This reduces the inventory cost and improves the accuracy of forecasting.

Answer 13

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Question 1. What is JIT?

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