______ Is a Means of Translating Customer Requirements into the Appropriate

question 95

Short Answer

______ is a means of translating customer requirements into the appropriate technical requirements for each stage of product or service development.

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Definitions:

Just-In-Time

A manufacturing strategy that aligns raw-material orders with production schedules to minimize inventory costs.

Opportunity Situation

A scenario in which conditions are favorable for achieving a specific goal or for seizing a strategic advantage.

Inventory Turnover

A measure of how frequently a company's inventory is sold and replaced over a specific period.

Financial Liquidity

The ease with which an asset can be converted into cash without affecting its market price.