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Q. Just-in-time inventory management processes?
Just-in-time (JIT) inventory management processes seek to eliminate any waste that arises in the manufacturing process as a result of using inventory. JIT purchasing processes apply the JIT principle to deliveries of material from suppliers. With JIT production processes inventory levels of raw materials work-in-progress and finished goods are reduced to a minimum or eliminated altogether by improved work-flow planning and closer relationships.
Q. Re-order point - technique of inventory management? Re-order point: - The re-order point is that stock level at which an order should be placed. Mutually the excessive and i
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