Statement 1: Just-in-Time (JIT) is a production system that minimizes waste by producing only what is required at the exact time.
Statement 2: JIT systems aim to maintain high levels of inventory to avoid stock-outs.

1
Both statements are correct.
2
Statement 1 is correct, but Statement 2 is incorrect.
3
Statement 1 is incorrect, but Statement 2 is correct.
4
Both statements are incorrect.

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