According to JIT, an Approach to Reduce Product Variation Is

question 27

Multiple Choice

According to JIT, an approach to reduce product variation is

• A) make fewer setups.
• B) continually improve the process.
• C) hire and train quality inspectors.
• D) by many competing sources.

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Definitions:

Accounts Payable

Short-term liabilities of a company, representing amounts owed to vendors or suppliers for goods and services received but not yet paid for.

CCC

Refers to the Cash Conversion Cycle, a metric that gauges how efficiently a company manages its inventory, receivables, and payables to generate cash.

Peak Borrowing Needs

The maximum amount of capital a business or individual will need to borrow to meet its financial obligations.

Monthly Cash Budget

A financial plan projecting cash inflows and outflows on a monthly basis, used by companies to ensure liquidity and financial stability.