Which major OSCM concept can be described as an integrated s

Which major OSCM concept can be described as an integrated set of activities designed to achieve high-volume production using minimal inventories of parts that arrive at work-stations exactly when they are needed?

Solution

Just-in-time (JIT) production-

An inventory strategy firms use to increase efficiency and decrease waste by receiving goods only as they are required in the production process, thus reducing inventory costs.

This requires that producers are able to correctly forecast demand.

This system is a shift away from the older \"just in case\" strategy wherein producers carried large inventories in case higher demand had to be met.