Question 33
POST_UTME_LAUTECH
•
2019
•
COMMERCE
•
objective
A firm is considering two different types of inventory management systems: just-in-time (JIT) and economic order quantity (EOQ). Explain the key differences between these two systems and provide an example of each.
Answer Options
Correct Answer
A.
JIT involves producing and stocking inventory just in time to meet customer demand, while EOQ involves producing and stocking a large quantity of inventory to meet customer demand.
B.
EOQ involves producing and stocking inventory just in time to meet customer demand, while JIT involves producing and stocking a large quantity of inventory to meet customer demand.
C.
JIT involves producing and stocking a large quantity of inventory to meet customer demand, while EOQ involves producing and stocking inventory just in time to meet customer demand.
D.
EOQ involves producing and stocking inventory to meet customer demand, while JIT involves producing and stocking inventory to meet customer demand.
Correct Answer
A
Correct Option:
JIT involves producing and stocking inventory just in time to meet customer demand, while EOQ involves producing and stocking a large quantity of inventory to meet customer demand.
About This Question
This is
Post Utme Lautech
2019
Commerce
Question 33.
It is one of the
objective
questions from the
2019
Post Utme Lautech
Commerce
examination.