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.

---

Definitions:

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law.

Sale of Goods

A transaction between a buyer and a seller in which the seller transfers ownership of goods to the buyer for a price.

Contracts for Services

Agreements between parties where one agrees to provide a service to the other in exchange for compensation.

Sale of Land

The legal process involving the transfer of property rights in land from one party to another, typically through a deed.