Final answer:
The claim that waiting time is not considered a waste in JIT is false; waiting time is seen as a non-value-adding activity which JIT aims to minimize.
Step-by-step explanation:
The statement that waiting time is not considered a waste in the Just-In-Time (JIT) philosophy is false. In JIT, the goal is to minimize waste and increase efficiency within the production process, and waiting time is seen as a non-value-adding activity that should be reduced as much as possible. The philosophy emphasizes that inventory should be produced and moved through the system only as needed to meet customer demand and not before, which means that any time spent waiting (whether it's people, materials, or work in progress) represents an inefficiency that JIT seeks to eliminate. Reducing or eliminating waiting time can lead to improved workflow, reduced lead times, and lower holding costs, which are key objectives of the JIT approach.