Final answer:
Just-in-time production aims to eliminate all forms of inventory in the supply chain, including raw materials, work-in-process, and finished goods, to increase efficiency and reduce costs.
Step-by-step explanation:
A company that adopts a just-in-time production system would attempt to reduce and/or eliminate raw-material inventory, work-in-process inventory, and finished-goods inventory. The primary goal is to minimize the carrying costs of inventory, ensure quality by receiving parts closer to the assembly time, and improve efficiency by reducing the space and resources tied up with stored goods. This system requires tight scheduling and reliable suppliers but can significantly reduce waste and contribute to a more streamlined production process.