Final answer:
Just-in-Time planning is an approach that helps Mutual Insurance Company of Iowa's Des Moines office optimize its operations by minimizing inventory and receiving goods and materials precisely when needed.
Step-by-step explanation:
Just-in-Time planning, also known as JIT planning, is a business strategy that focuses on minimizing inventory and reducing waste by receiving goods and materials exactly when they are needed in the production process. In the case of the Mutual Insurance Company of Iowa's Des Moines office, the Just-in-Time approach plays a crucial role in ensuring efficient operations and cost savings. By adopting JIT planning, the office can minimize inventory carrying costs, reduce the risk of obsolete products, and improve customer service by having the right resources available at the right time. For example, the office can maintain a lean inventory of insurance policies and claims processing materials, receiving them only when they are needed and minimizing storage costs.