Luxury lighting group inc. does not keep excess stock on hand. when orders are received, the company brings in parts from suppliers, creates products, and fulfils the order. this represents just-in-time inventory.
JIT, or just-in-time, inventory management, involves only ordering products from vendors when they are actually needed. This approach's primary goals are to lower the cost of keeping inventory and boost inventory turnover.
With a just-in-time (JIT) inventory system, a business receives products as close as feasible to the moment they are actually required. As a result, if an auto assembly facility wants to install airbags, it doesn't maintain a supply on hand; instead, it gets them as the cars are put together.
Read more on inventory here:https://brainly.com/question/24868116
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