When Implementing a JIT System

question 80

Multiple Choice

When implementing a JIT system,

• A) managers can mitigate some of the effects of worker stress by judiciously using safety stocks and emphasizing material flows rather than worker pace.
• B) management should base the reward system on production volume.
• C) the plant layout is the only environmental characteristic that need not be analyzed.
• D) it is critical to develop a master production schedule that changes frequently as forecasts change.

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Definitions:

Homogeneous Oligopolists

Firms in an oligopoly that sell products so similar that consumers perceive them as identical, leading to competition based primarily on price.

Differentiated Oligopolists

Firms in an oligopolistic market structure that distinguish their products from those of competitors through branding, quality, or other means.

Collusive Oligopoly

A market situation where a few firms dominate the market and make coordinated efforts to control prices and market shares, often illegally or in violation of competitive practices.

Noncollusive Oligopoly

A market structure where a few dominant firms compete without any explicit agreements to fix prices or market shares, often leading to intense competition.