All of the following are key elements of a just-in-time philosophy, except Select one: A. lack of a need for accurate product cost information. B. increased coordination throughout the value chain. C. reduced inventory. D. reduced production times.

Question

Moshe Livingston

Business

21 July, 08:25

All of the following are key elements of a just-in-time philosophy, except Select one: A. lack of a need for accurate product cost information. B. increased coordination throughout the value chain. C. reduced inventory. D. reduced production times.

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Answers (2)

Know the Answer?

Braxton Hensley · Answer 1

A) lack of a need for accurate product cost information

Randy Beasley · Answer 2

Answer: lack of a need for accurate product cost information.

Explanation:

The key elements of the Just-In-Time (JIT) philosophy are reduced inventory, increased coordination through the value chain, increased quality of the product, reduced production times and increased involvement of employee and empowerment. The removal of accurate cost information for a product is not among the key elements of the just-in-time philosophy.

As the name suggests, the just-in-time philosophy means that the achievement and accomplishment of a organizational strategy hugely depends on an accurate coordination between organizations and their suppliers in order to ensure prompt delivery as organizations can greatly suffer when there is a delay of an element of production.