A-LevelAccountingCosting for materials and labour9706/12 · Feb/Mar 2024 · Q231 Mark
Which statements describe just in time (JIT) management of inventory? 1 It increases administration costs as more suppliers are required. 2 It is a management strategy that minimises inventory to increase efficiency. 3 Producers hold only sufficient inventory to meet maximum market demand. 4 The system benefits cash flow and reduces the amount of capital required to run the business.
A1 and 2
B1, 3 and 4
C2, 3 and 4
D3 and 4 only
✓ Correct answer
C: 2, 3 and 4
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