A Method of Input-Output Control That Uses a System of Cards

question 54

Multiple Choice

A method of input-output control that uses a system of cards to limit the amount of work at a work center and also to control lead time and monitor backlog is

• A) the assignment method
• B) backward scheduling
• C) forward scheduling
• D) constant work-in-process or ConWIP
• E) level material use

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Definitions:

Market Price

The existing cost for purchasing or selling an asset or service on the open market.

Purely Competitive Market

A market structure characterized by many buyers and sellers, all of whom sell identical products, which results in the agents having no control over prices.

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.

Average Fixed Cost

Production costs that stay unchanged with output levels, split by the amount of produced output.