BANK SEBI Grade A Phase 1 & Phase 2 Mock Test 2024 Accounting and Auditing Cost and Management Accounting
Which of the following is a key principle of Just-in-Time (JIT) manufacturing?
1
Maintaining high levels of inventory to ensure production continuity
2
Producing goods in anticipation of future demand to meet market needs
3
Reducing waste by producing only what is needed, when it is needed, and in the amount needed
4
Implementing automated systems to replace manual labor in production
5
Standardizing products to reduce variability and increase efficiency