approach is a collection of ideas that streamline a company rsquo s production process activities t...........

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

_____________approach is a collection of ideas that streamline a company’s production process activities to such an extent that wastage of all kinds.

Just-in-Time (JIT)

Kaizen Costing

Total Productive Maintenance (TPM)

Cellular Manufacturing/ One-Piece Flow Production Systems

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Explanation:

A just in time approach is a collection of ideas that streamline a company’s production process activities to such an extent that wastage of all kinds viz., of time, material, and labour is systematically driven out of the process. JIT has a decisive, positive impact on product costs.