When Implemented as a Comprehensive Manufacturing Strategy, JIT, TPS, and Lean

question 87

True/False

When implemented as a comprehensive manufacturing strategy, JIT, TPS, and lean systems sustain competitive advantage and result in increased overall returns.

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Definitions:

Direct Labor Wage Rate

The amount of money paid to workers for each hour of labor.

Raw Materials Inventory

Stocks of unprocessed materials that are used in the manufacturing process to create finished goods.

Raw Material Needs

The quantity of raw materials required to meet production schedules and maintain inventory levels.

Net Operating Income

A company's income after subtracting operating expenses but before deducting taxes and interest charges.