The Element of Lean Involving Firms Working with Buyers and Customers

question 19

Multiple Choice

The element of lean involving firms working with buyers and customers with the mutual goal of eliminating waste,improving speed,and improving quality is referred to as:

• A) Waste reduction
• B) Lean supply chain relationships
• C) Lean layouts
• D) Continuous improvement

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Definitions:

Impaired

A reduction in the recoverable value of an asset below its carrying value on the balance sheet, leading to recognition of an impairment loss.

Market Value

The market value denotes the ongoing rate at which an asset or service can be traded in a marketplace.

Market Value

The present rate at which a service or asset is available for purchase or sale on the open market.

Present Value

Present Value is a financial concept that calculates the current worth of a future sum of money or stream of cash flows given a specified rate of return.