Question

The fact that the warehouses of a company's suppliers are located in close proximity to its factories is an example of having a supplier management program for that company to operate its ______.

Answer 1

The fact that the warehouses of a company's suppliers are located in close proximity to its factories is an example of having a supplier management program for that company to operate its just in time inventory system. Thus, you don't keep a large supply of goods and raw materials on hand in case you need them.

JIT is a type of inventory management that calls for close coordination with suppliers to ensure that raw materials arrive at the exact time when manufacturing is supposed to start, but no earlier. Using the just-in-time (JIT) inventory management strategy, you keep the least amount of inventory on hand possible.

To learn more about inventory, click here.

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