Increasing Materials Turnover and Reducing Holding Costs Are Key Contributors

question 81

Multiple Choice

Increasing materials turnover and reducing holding costs are key contributors to cost savings achieved by using a

• A)just-in-time inventory strategy.
• B)quantum innovation strategy.
• C)flexible manufacturing strategy.
• D)fixed-position layout.
• E)self-managed team.

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Definitions:

Learning Theory

A comprehensive framework that describes how individuals acquire, process, and retain knowledge and skills through experience, observation, and instruction.

New Attitudes

Recently formed or significantly changed opinions or feelings towards a person, object, or situation.

Cognitive Approach

A psychological perspective that focuses on mental processes such as perception, memory, and problem-solving to understand behavior.

Balance Theory

A theory suggesting that individuals strive for psychological consistency in their relationships and beliefs, attempting to maintain a harmonious balance in their feelings and thoughts.