What is a just-in-time (JIT) inventory system? Name some inventory costs that can be eliminated or reduced

Question:

What is a just-in-time (JIT) inventory system? Name some inventory costs that can be eliminated or reduced by its use.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamental Managerial Accounting Concepts

ISBN: 978-0078110894

6th Edition

Authors: Edmonds, Tsay, olds

See More Books

Question Posted: Dec 04, 2011 09:36 AM

See More Questions

What is sensory discrimination? What is a just noticeable difference (j.n.d.)?
Should the analysis phase be eliminated or reduced when we intend to use a software package instead of custom development or outsourcing?
JIT manufacturing is just a gimmick for reducing inventory costs; it has nothing to do with quality. Discuss the preceding statement.
Do the following problems mentally using the distributive property. a. 5 99 b. 4 88 c. 8 52
Ethridge Drug Store has four employees who are paid on an hourly basis plus timeand- a-half for all hours worked in excess of 40 a week. Payroll data for the week ended February 15, 2017, are...
Determine the moment of inertia of the beams crosssectional area about the y axis. 50 mm 250 mm. 150 mm 25 mm y 150 mm 25 mm y -X
What do you recommend that Charlies coworkers do to develop more harmonious relationships with him? LO.1
A cylinder of radius ro, length L, and thermal conductivity k is immersed in a fluid of convection coefficient hand unknown temperature T. At a certain instant the temperature distribution in the...
this is tha same question At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,500,000. The manager also estimated the following overhead costs for the...
Marc Smith, vice president for operations of HHN, Inc., a manufacturer of cabinets for telephone switches, is constrained from meeting the 5-year forecast by limited capacity at the existing three...
What costs should be considered in determining the sales price of a product?
What does the term reengineering mean? Name some reengineering practices.
What are some of the issues that arise in evaluating and maintaining control over foreign operations?
Time (s) Velocity (cm/s or m/s) Uncertainty 0.100 -145 cm/s or 0.145 m/s +/- 0.089 m/s 0.200 -266 cm/s or 0.266 m/s +/- 0.010 m/s 0.300 -359 cm/s or 0.359 m/s +/- 0.0201 m/s 0.400 -451 cm/s or 0.451...
Using Technology to Generate Normal Quantile Plots. In Exercises 13-16, use the data from the indicated exercise in this section. Use software (such as Statdisk, Minitab, Excel, or StatCrunch) or a...
Use your understanding of work and power to answer the following questions. 1. Two physics students, Will N. Andable and Ben Pumpiniron, are in the weightlifting room. Will lifts the 100-pound...
Problem 2. Consider the following chemical reaction. 2H2 + O2 = 2HO Gibbs Duhem equation states that SdT - Vdp+ Nidi=0. Apply this equation for the above reaction and determine the equilibrium...
Part D: Exploring Pascal's Triangle 1. Fill-In the missing numbers in Pascal's Triangle. See 2. Find the sum of each row in Pascal's Triangle. Describe the pattern. 1, 2, 4, 8, 16... Power of 2n 1 1...
Do the account executives have experience in these industries?
14. In testing the existence assertion, an auditor ordinarily works from the a. Financial statements to the accounting records. b. General journal to the general ledger. c. Supporting evidence to the...
How would a catering sales manager handle a mother and daughter making arrangements for the daughters wedding differently from a meeting planner from a major corporation wishing to get a quote on a...
This problem is an extension of Problem 5-15A, which must be completed first. Bombay's accounting staff has disaggregated the $216,000 of overhead costs into the following items: (1) Inspection costs...
Apple Academy is a profit-oriented education business. Apple provides remedial training for high school students who have fallen behind in their classroom studies. It charges its students $750 per...
Horten Sporting Goods Corporation makes two types of racquets, tennis and badminton. The company uses the same facility to make both products even though the processes are quite different. The...
ACC 2 0 2 Milestone One: Operational Costs Data Appendix You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use for...
Explain the following: Understand the PPE acquisition (or investing) cycle and related significant transactions and source documents Understand the relevant assertions/objectives about PPE balances...
Problem 3 Progress Company acquired 6 0 % of Stall Corporation on 1 2 0 2 0 . Fair values of Stall's assets and liabilities approximated book values on that date. Progress uses the initial value...

What is a just-in-time (JIT) inventory system? Name some inventory costs that can be eliminated or reduced

Question:

Step by Step Answer:

JIT inventory system is a reengineering principle where inventory is made availabl...View the full answer

Fundamental Managerial Accounting Concepts

Students also viewed these Managerial Accounting questions