The Flexible Manufacturing System Is Defined by the Text as

question 5

Multiple Choice

The flexible manufacturing system is defined by the text as

• A) one-of-a-kind production using skilled labor.
• B) highly automated assembly lines making one mass-produced product using little human labor.
• C) parts grouped into manufacturing families to produce a wide variety of mass-produced items.
• D) a process utilizing the just-in-time JIT) method of manufacturing.
• E) standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed.

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Definitions:

Capital Budgeting

The approach taken by a business to appraise potential key projects or investments.

Equity Investment

The act of putting money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit, primarily through the ownership of equity.

Separately Funded

A financial arrangement where specific projects or objectives are funded independently from an organization's main operating budget.

Dedicated Capital

Refers to funds allocated for a specific purpose or investment, typically involving long-term projects or goals.