Final answer:
A Quick Response system is used in retailing to receive merchandise just in time for sale, reducing inventory levels and costs. This system works in conjunction with technologies like EDI to replenish inventory promptly to meet consumer demands.
Step-by-step explanation:
The inventory management system used in retailing where merchandise is received just in time for sale when the customer wants it is known as a Quick Response system (QR). This strategy enables retailers to reduce inventory levels and associated carrying costs by receiving goods only as they are needed in the sales process. The Quick Response system is closely related to Just-In-Time inventory management principles, commonly applied in manufacturing. These systems often work hand in hand with Electronic Data Interchange systems (EDI) which facilitate the exchange of business information in a standardized electronic format, thereby making the quick response feasible. However, the system specifically designed for the prompt replenishment of inventory to meet consumer demands is the Quick Response system.