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AJS catering services receives food orders for several events taking place within a week.Which of the following types of inventory system should it use to manage food"?
A) A perpetual inventory system
B) A vendor-managed inventory system
C) Production planning
D) A just-in-time (JIT) system
Just-In-Time (JIT) System
Broad management philosophy that reaches beyond the narrow activity of inventory control to influence the entire system of production and operations management.
Perpetual Inventory System
System that continuously monitors the amount and location of a company’s stocks.
Vendor-Managed Inventory
Process in which the producer and the retailer agree that the producer (or the wholesaler) will determine how much of a product a buyer needs and will automatically ship new supplies when needed.
- Analyze the implications of inventory management systems on production efficiency.
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Learning Objectives
- Analyze the implications of inventory management systems on production efficiency.
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