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What Is Continuous Improvement? How Does It Relate to Total

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What is continuous improvement? How does it relate to total quality management?


Definitions:

Payables

Short for accounts payable; money owed by a company to its suppliers or creditors for products and services received but not yet paid for.

Fixed Asset Turnover Rate

A financial ratio that measures how effectively a company is using its fixed assets to generate sales.

Total Asset

The sum of a company's current and non-current assets, representing the company’s total owned resources.

Annual Sales

The total revenue a company generates from its operations over a one-year period.

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