Inventory Management Quiz

What is the main objective of just in time (JIT) inventory management?

• Minimize control over the manufacturing process

• Increase overproduction and waste

• Maximize warehouse holding costs

• Reduce inventory holding costs and increase inventory turnover

Who is frequently referred to as the father of JIT?

• Aisin

• Taiichi Ono

• James Womack

• Kiichiro Toyota

Which industry did Nike implement a just-in-time delivery system to improve their production facilities?

• Automotive industry

• Retail industry

• Technology industry

• Apparel industry

What is one of the drawbacks of the JIT model?

• Reliable suppliers

• Unreliable suppliers

• Stable production operations

• Low profit rate

What is the benefit of JIT model in terms of local sourcing?

• Increase transportation time and cost

• Decrease employment rates

• Reduce the need for complementary businesses

• Increase the investment for the company

Which industry did Dell reduce their costs and cut lead times by implementing JIT?

• Technology industry

• Retail industry

• Automotive industry

• Fast food industry

What did the fire at Japanese-owned automotive parts supplier Aisin cause for Toyota's production?

• No impact on production

• Decreased production

• Increased production

• Improved production

What is the benefit of JIT model in terms of smaller investments?

• Require more investment for the company

• Use the right first time concept to reduce costs

• Increase inspection and rework costs

• Generate less profit

What is the main disadvantage of the JIT model during the global pandemic?

• Increased efficiency

• Decreased waste

• Disrupted supply chains

• Stable production operations

What type of companies should generally implement the JIT model?

• Companies with complex supply chains

• Companies with unreliable suppliers

• Companies with unpredictable customer demand

• Companies with simple supply chains and reliable suppliers