With regard to inventory management systems, which of the following statements is TRUE?

		A vendor-managed inventory (VMI) system outsources the inventory control and purchasing function by providing suppliers with access to sales data, inventory data, and physical access to count products.
		An economic order quantity (EOQ) system focuses on improving the accuracy of forecasting techniques to reduce required inventory levels through scheduled purchases which generally results in a low level of on-hand finished goods inventory.
		A materials requirements planning (MRP) system attempts to totally eliminate finished goods inventory by purchasing and producing goods only in response to actual sales.
		A just-in-time inventory (JIT) system focuses on maintaining stock levels so that production can continue without interruption even if inventory use is greater than expected which generally results in a high level of on-hand finished goods inventory.