Answer to Question #191883 in Economics for Beauty Magadlela

Question

When using the ________________ system, inventories are ordered only when they are needed and the costs of maintaining inventory levels over extended periods of time are eliminated.

1 economic order quantity (EOQ)

2 material requirements planning (MRP)

3 just-in-time (JIT)

4 Edwards-Deming Q

Answer 1

When using the material requirements planning (MRP)  system, inventories are ordered only when they are needed and the costs of maintaining inventory levels over extended periods of time are eliminated.