Table 7.2.2
-The table shows a country's demand and supply schedules.Based on Table 7.2.2,at what world price would the country export?
Definitions:
JIT
Just-In-Time, a lean manufacturing principle aiming to reduce waste and increase efficiency by receiving goods only as they are needed in the production process.
Small Lot Size
A production strategy where quantities of manufactured items are kept low, allowing for greater flexibility in product variation and reducing inventory costs.
Lean Operations
A management philosophy aimed at minimizing waste within manufacturing systems while simultaneously maximizing productivity.
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