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Just in time

This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.

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March 17, 2023 at 3:46 am #681435
faysalciro
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Just In time inventory system makes the company long contract with suppliers so price variance is less relevant. ( True or Falso).
Sir, I incountared this question in exam and I choose True assuming that lower prices will the contracted prices, so price variance is unlikely be the case most of time and for that less relevant. So can I be right, belp me with it Sir.
Thank you.
March 17, 2023 at 10:40 am #681464
John Moffat
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Although there is likely to be a long-term contract with suppliers, it is deliver times that are important with just-in-time. The contract does not necessarily have to be at fixed long-term prices.
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