Identify and State the Historical Significance of the Following

question 64

Short Answer

Identify and state the historical significance of the following:
-parity

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Definitions:

Pull Manufacturing

A production method where production is based on customer demand rather than forecasting, utilizing techniques to only produce what is needed when it's needed.

Small Batch Sizes

Refers to producing goods in limited quantities, often to meet specific orders or reduce waste.

Lean Accounting System

An accounting approach that aligns with lean thinking, focusing on value creation, waste elimination, and providing transparent financial information.

Work in Process

Inventory that includes items that are in the process of being produced but are not yet complete; this term is often used interchangeably with "In Process" in manufacturing contexts.