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Just-in-Time Inventory Management
This is an approach to dealing with materials inventories that emphasizes the elimination of all waste and the continual improvement of the production procedure. The procedure focuses on policies, procedures, and attitudes by managers and another employee designed to result in the efficient production of high-quality goods while continuously allowing the firm to maintain the minimum level of inventories.
General Components Ltd produces a component ‘X', the selling price of which is Rs 50. The unit cost structure based on the present level of production/sales of 100 000 units
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