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The difference between JIT & JIC

This section of the IB Business Management syllabus looks at the main differences between just-in-time (JIT) and just-in-case (JIC) methods of stock control (AO2).Just-in-time (JIT) is a lean stock control system which relies on deliveries of stock being made just in time for them to be used in the production process. JIT removes the costs of holding buffer stocks (minimum stock levels). Hence, this eliminates the need...

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