Explain the significance of the inventory turnover ratio in a JIT manufacturing environment.

Question:

Explain the significance of the in a JIT manufacturing environment.

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...