The List of 5S's, Although It Looks Like a Housekeeping

question 11

Multiple Choice

The list of 5S's, although it looks like a housekeeping directive, supports lean production by

• A) identifying non-value items and removing them, in the "sort/segregate" item
• B) reducing inventory, in the "standardize" item
• C) increasing variability through standardized procedures, in the "standardize" item
• D) eliminating wasted motion through ergonomic studies, in the "support" item
• E) building good safety practices, in the "shine/sweep" item

Learn the steps of the DATA process and their applications in data analysis.

Identify the goals behind measuring key performance indicators (KPIs) related to message control, service quality, and opportunity cost.

Comprehend how cost efficiency calculations and ROI models assess the value of marketing efforts.

Gain familiarity with tools and methods for navigating and visualizing KPIs, including performance dashboards and A/B testing.

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Definitions:

Trade Protection

Involves government policies and measures aimed at shielding domestic industries from foreign competition, using tools such as tariffs, quotas, and subsidies.

Fiscal Deficits

Happens when the expenses of a government surpass its income, not counting funds acquired through borrowing.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision to pursue a certain action.

Trade Agreements Act

Legislation aimed at fostering fair and open international trade by implementing tariff concessions and other trade-related provisions.