The Five Steps in the Lean Thinking Model, in Order

question 73

Multiple Choice

The five steps in the lean thinking model, in order are:

• A)1.Define value, 2.Identify the pull factors, 3.Identify the value stream, 4.Make the value stream flow, 5.Revise until perfection is achieved.
• B)1.Define value, 2.Identify the value stream, 3.Make the value stream flow, 4.Implement a pull system, 5.Strive for perfection.
• C)1.Identify unproductive activities that need to be reduced, 2.Identify push factors causing those unproductive activities, 3.Develop operations so that the work flows smoothly, 4.Strive for perfection, 5.Evaluate the value that has been added.
• D)1.Identify push factors, 2.Develop strategies to turn those factors into pull factors, 3.Assess the value added by steps one and two, 4.Strive for perfection, 5.Repeat the process on a regular basis.

Analyze the effect of changes in supply and demand on equilibrium price.

Identify the role of expectations and number of suppliers on market supply.

Understand the impact of government policies on supply.

Comprehend the relationship between the prices of related goods and demand or supply.

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Definitions:

Administrator

A person responsible for running a business, organization, or a particular part of a system or service.

Supervisors

Individuals responsible for overseeing and guiding the work and performance of others, often in a professional or work setting.

Supervision

A process where a more experienced or knowledgeable individual guides or mentors another, often in a professional or educational setting.

Therapy

A treatment aimed at relieving or healing disorders, typically involving psychological techniques and discussions between the therapist and the client.