The Total Quality Management (TQM) Philosophy Involves All Employees in ________

question 71

Multiple Choice

The total quality management (TQM) philosophy involves all employees in ________.

• A) customer relationship management
• B) continuous product quality improvement
• C) market positioning
• D) creating sustainability
• E) increasing the lifetime value of customers

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Definitions:

Physical Flow of Goods

Refers to the actual movement of goods through the production process to the customer, distinct from the accounting or paper flow.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a dataset, assigning weights to each number based on its significance.

Weighted Average

A computation that considers the different levels of significance of the figures in a collection of data, giving greater emphasis to certain numbers over others.

FIFO

An inventory valuation method that assumes the first items purchased are the first items sold, standing for First-In, First-Out.