BANK SEBI Grade A Phase 1 & Phase 2 Mock Test 2024 Accounting and Auditing Cost and Management Accounting
Which of the following is a core principle of the Just-in-Time (JIT) production system?
1
Maintaining high levels of inventory to avoid stockouts
2
Producing goods only as they are needed
3
Maximizing production capacity utilization at all times
4
Using large batch sizes to reduce setup costs
5
Focusing on long-term contracts with suppliers