Question: What is meant by just-in-time (JIT) purchasing?

What is meant by just-in-time (JIT) purchasing?

Step by Step Solution

★★★★★

3.39 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Justintime JIT purchasing is a systems approach for developing a... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Supply Chain Management global Questions!

Q:

Crossfire Company segments its business into two regions-East and West. The company prepared a contribution format segmented Income statement as shown below: Sales Variable expenses Contribution...

Q:

What is meant by just cause?

Q:

What is meant by time value of money? Explain the role of this concept in valuation.

Q:

What is meant by equity financing? What is meant by debt financing?

Q:

What is meant by just - in - time ( JIT ) purchasing?

Q:

Term Paper & Case : Lean Production, relevant benefits, relevant costs. (L03) Managers frequently use a process management method known as lean thinking, or what is called Lean Production in the...

Q:

SUPPLY CHAIN MANAGEMENT AT BOSE CORPORATION Bose Corporation, headquartered in Framingham, Massachusetts, offers an excellent example of integrated supply chain management. Bose, a producer of audio...

Q:

Complete the sentences below. 1 ) Supply - chain strategy decisions determine activities. 2 ) Managing inventory involves the identification of three relevant costs: ordering costs, carrying costs,...

Q:

A number of terms are provided. LOADING... ( Click the icon to view the terms. ) Use the terms from the list to complete the following sentences: LOADING... ( Click the icon to view the sentences. )...

Q:

"JIT purchasing has many benefits but also some risks." Do you agree? Explain briefly. Question content area bottom Part 1 A . Just - in - time ( JIT ) purchasing is the purchase of materials ( or...

Q:

" JIT purchasing has many benefits but also some risks." Do you agree? Explain briefly. Question content area bottom Part 1 A . Just - in - time ( JIT ) purchasing is a "push - through" system that...

Q:

A set of normally distributed data has mean 63 and standard deviation 1.4. Find the z-value for each of these data values. a. 64.4 b. 58.8 c. 65.2 d. 62

Q:

Formulate the mathematical program model for selecting among three projects described below, using maximizing the sum of NPV's of the projects selected as the objective function. MARR = 8 %. There is...

Q:

A CFP professional may not engage in conduct that reflects adversely on his or her integrity or fitness as a CFP professional, upon the CFP marks, or upon the profession." This statement is included...

Q:

Describe the clinical features of panic disorder.

Q:

What would be the implications of not awarding the contract to Mohawk?

Q:

Evaluate the current inventory control system at Swisher. How are order quantities determined? If needed, what changes do you recommend?

Q:

Evaluate the purchasing process at Swisher. If needed, what are your suggestions for improvement?

Q:

B. Stephens Company (25 points) You are a new financial analyst at Stephens Company, have junt recelved the Company's 2022 (A) Calculate the following ratios finclude your calculations below or on a...

Q:

Question 4 (15 points): Your company has $200,000 to invest and has identified the following three investments: Investment A requires an initial investment of $ 130,000 and has an annual rate...

Q:

Question 15 12 pts Consider a 6-month futures contract on the S&P 500 index. If the current value of the index is 1,000, the dividend yield is 3 percent per year continuously compounded, and the...