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Question
____________ is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory.
____________ is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory.
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Solution
The correct option is D JIT Inventory System
Just-in-time (JIT) is a technique which company employs to increase efficiency and decrease waste by receiving the goods only when there is a need during production. This reduces inventory cost as not much inventory is on hold. But this technique requires an accurate forecasting.
Just-in-time (JIT) is a technique which company employs to increase efficiency and decrease waste by receiving the goods only when there is a need during production. This reduces inventory cost as not much inventory is on hold. But this technique requires an accurate forecasting.
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