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Which of the following correctly describes just-in-time (JIT) inventory management? It is a production approach that maintains surplus goods at each stage of manufacture. It

Which of the following correctly describes just-in-time (JIT) inventory management?

It is a production approach that maintains surplus goods at each stage of manufacture.

It is an inventory purchase approach that seeks purchase discounts on buying large quantities.

It is an inventory approach which stockpiles raw materials to protect against supply interruptions.

It is a cost management approach that focuses on maintaining lean inventory levels.

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