is a system whose objective is to produce or to procure products or components as they are required...........

Costing - Phase (I & II) Lean System and Innovation

___________ is a system whose objective is to produce or to procure products or components as they are required by a customer or for use, rather than for stock them.

JIT

Kaizen Costing

Six Sigma

5 S

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Explanation:

Just-in-time (JIT) is a system whose objective is to produce or to procure products or components as they are required by a customer or for use, rather than for stock them. Just-in-time production and Just-in-time purchasing are the two elements of JIT policy.