- 5 Marks
MA – Mar 2024 – L2 – Q4b – Decision making techniques
This question identifies the challenges associated with the implementation of a Just-In-Time (JIT) inventory management system.
Question
Just-In-Time (JIT) is an inventory management system in which goods are received from suppliers only as they are needed. The main objective of this method is to reduce inventory holding costs and increase inventory turnover. Despite the benefits of JIT, it has some disadvantages.
Required:
Examine THREE (3) challenges associated with the implementation of JIT Inventory Management System.
Find Related Questions by Tags, levels, etc.
- Tags: Inventory Management, JIT, Operational Efficiency, Supply Chain
- Level: Level 2
- Topic: Decision making techniques
- Series: MAR 2024
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- 5 Marks
MA – Mar 2024 – L2 – Q4b – Decision making techniques
This question identifies the challenges associated with the implementation of a Just-In-Time (JIT) inventory management system.
Question
Just-In-Time (JIT) is an inventory management system in which goods are received from suppliers only as they are needed. The main objective of this method is to reduce inventory holding costs and increase inventory turnover. Despite the benefits of JIT, it has some disadvantages.
Required:
Examine THREE (3) challenges associated with the implementation of JIT Inventory Management System.
Find Related Questions by Tags, levels, etc.
- Tags: Inventory Management, JIT, Operational Efficiency, Supply Chain
- Level: Level 2
- Topic: Decision making techniques
- Series: MAR 2024