Global just$-$in$-$time $($JIT$)$ manufacturing systems

allow firms to lower all inventory holding costs and reduce their exposure to international supply chain shocks.

have little effect on input and output inventory holding costs, but reduce dealer inventories and increase exposure to international supply chain shocks.

have little effect on dealer inventories, but reduce input and output inventory holding costs, and increase exposure to international supply chain shocks.

allow firms to lower all inventory holding costs, but increase their exposure to international supply