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In your reading this week, you learned about the elements of the value chain including the role of target costing, total quality management, cost of
In your reading this week, you learned about the elements of the value chain including the role of target costing, total quality management, cost of quality, and just-in-time (JIT) inventory systems. In your posting, address the following: Explain the primary characteristics and objectives of just-in-time (JIT) inventory systems. Consider your current employer or a company where you have worked in the past as you evaluate the four components of cost of quality: (1) prevention costs, (2) appraisal costs, (3) internal failure costs, and (4) external failure costs. For each component, explain how it applies in the business that you selected. Identify specific examples for each component
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