Just-in-time production is a system in which materials, parts and finished products are delivered at the precise time they are needed. This encourages lower stock holdings, shorter lead times, quicker supply chains, better customer contact and relations, greater efficiency and a more profit-focused organisation.

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Clayton Act

Federal antitrust law originally passed in 1914 and strengthened in 1950 by the Celler-Kefauver amendment. Section 7 gives the Federal Trade Commission (FTC) power to prohibit the acquisition of one company by another if adverse effects on competition would result, or if the FTC perceives a trend that ultimately might lead to decreased competition.

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