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Just in Time Inventory: Definition, Advantages & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Just in Time (JIT) inventory has which of the following objectives?

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1. Marissa manufactures porcelain figures. The raw materials are inexpensive and do not spoil so she purchases a year supply in advance. How will the switch to JIT inventory help Marissa's business?

2. Which of the following are examples of the risk involved in using Just in Time inventory?

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About This Quiz & Worksheet

Practice questions test your knowledge of topics such as the objective of JIT inventory and the benefits of using this type of inventory.

Quiz & Worksheet Goals

Take these assessments to improve what you know on:

  • Objectives of JIT inventory
  • Benefits of the inventory
  • JIT inventory risks
  • The main idea of using JIT inventory

Skills Practiced

  • Interpreting information - verify you can read information regarding the benefits of the inventory and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about the main idea of using JIT inventory
  • Reading comprehension - ensure that you draw the most important information from the related JIT inventory lesson

Additional Learning

Refer to the lesson called Just in Time Inventory: Definition, Advantages & Examples for more details on this concept and to complete the following objectives:

  • Understand what JIT inventory is
  • Identify how JIT inventory meets demand
  • Describe how JIT inventory might be accomplished in a real business
  • Show why businesses would choose to use JIT inventory
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