Discussion
Just-in-Time (JIT) Inventory System is a __________ philosophy which is used for managing all types of inventory, purchase and production functions in an organisation
Answer: B
The Just-in-Time inventory system is a Japanese philosophy. It originated in Japan, in the Toyota Motor Company's production system, and aims to keep stock at the minimum by receiving materials and producing goods only when they are needed. The purchase, production and inventory functions are co-ordinated so that waste is reduced. Korean, French and German are not the origin of the system.
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