Value-Stream Mapping

question 110

Multiple Choice

Value-stream mapping:

• A)is a variation of time-function mapping.
• B)examines the supply chain to determine where value is added.
• C)extends time function mapping back to the supplier.
• D)starts with the customer and works backwards.
• E)All of the above are true.

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Definitions:

Equation

A mathematical statement that asserts the equality of two expressions, represented by the symbol "=".

Gross Profit

Sales minus the cost of merchandise sold.

Owner's Equity

The residual interest in the assets of a company after deducting liabilities.

Merchandise Sold

The total goods or inventory that have been sold to customers within a specific period, generating revenue for the business.