Asked by MARIO MURILLO on Apr 24, 2024
________ is the minimum inventory necessary to keep a perfect system running.
Minimum Inventory
The lowest quantity of stock that must be kept on hand to prevent stockouts, taking into account lead times and demand variability.
Perfect System
An idealized or hypothetical system that operates without any faults, failures, or inefficiencies.
- Acquire insight into the role of minimal inventory in JIT models and why it is essential.
Learning Objectives
- Acquire insight into the role of minimal inventory in JIT models and why it is essential.
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