The cost incurred in a joint production process before the joint products become identifiable as separate products
A common cost in cases where a company produces products in fixed proportions and the cost the company incurs to produce one product entails producing another; the backhaul is an example joint rate - A rate over a route that requires two or more carriers to transport the shipment just-in-time (JIT) inventory system - An inventory control system that attempts to reduce inventory levels by coordinating demand and supply to the point where the desired item arrives just in time for use Back to Top