For just-in-time (JIT) to be successful, manufacturers have to have the cooperation of their suppliers.
Answer the following statement true (T) or false (F)
True
For JIT to be successful, manufacturers have to have the cooperation of their suppliers. They are often unable to follow the practice of having numerous vendors, which buyers have traditionally been played against one another to obtain the best price. Instead, firms use fewer vendors and seek to establish close relationships with them, including calling them in during the design of the product.
You might also like to view...
Which of the following statements is true regarding the treatment of leases on the financial statements?
a. U.S. GAAP prohibits the presentation of leases on the financial statements since they are off-balance sheet transactions. b. U.S. GAAP criteria for lease capitalization are less strict than IFRS. c. The criteria concerning whether a lease is a capital lease are very different for IFRS and U.S. GAAP. d. The criteria required for lease capitalization under IFRS are considered more like guidelines rather than strict rules.
In the basic EOQ model, the amount ordered is received in ________ shipment(s)
Fill in the blank with correct word.
Nancy and Bob were tellers at the same bank, but Nancy received $5 more per hour than Bob because she was a mother. Does Bob have a legitimate complaint?
Violet negotiates with Urban Credit Corporation to obtain a loan for $85,000 to buy a home. During the negotiations, Urban Credit orally misrepresents the terms, but provides the required documents, which accurately state the terms. Violet does not read the documents. The party or parties most likely liable for a violation of the law is
A. neither party. B. Urban Credit. C. Urban Credit and Violet. D. Violet.