Final answer:
Just-in-time is the name given to the purchasing method that involves purchasing products as needed for production and immediate consumption without having to store and record products in inventory.
Step-by-step explanation:
The name given to the purchasing method that involves purchasing products as needed for production and immediate consumption without having to store and record products in inventory is Just-in-time (answer option C).
This method is commonly used in manufacturing processes to reduce inventory costs and minimize waste. By purchasing only what is needed when it is needed, businesses can lower storage costs and avoid the risk of holding excessive inventory.
Just-in-time purchasing relies on effective communication and coordination between suppliers and manufacturers to ensure that materials are delivered promptly and in the required quantities.