Which of the Following Defines Lean Methodologies

question 75

Multiple Choice

Which of the following defines lean methodologies?

• A) An approach to inventory that seeks to eliminate excess waste and reduce inventory to a minimal level.
• B) A computerized inventory control system that schedules the production of goods and takes into consideration the available and the required inventory.
• C) The active management of the distribution of materials throughout a system.
• D) A series of techniques designed to eliminate waste from manufacturing and service processes and provide greater customer value.
• E) A service approach that hopes to build a long-term and sustainable relationship with customers that has value for both the customer and the company.

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Definitions:

Economic Policy

This encompasses decisions by a government regarding its taxation, spending, and regulation practices to influence its country's economy.

Tax Reform Act

Legislation aimed at adjusting tax policies, which can include changes to tax rates, tax credits, and deductions to achieve economic or social objectives.

Corporate Income Tax

A tax imposed on the net income of a company derived from its business activities within a country.

Adam Smith

An 18th-century Scottish economist and philosopher, known as the "Father of Economics," who wrote "The Wealth of Nations" and is credited with founding modern economic theory.