Lean Production Replaced JIT in the 1990s Because JIT Did

question 44

True/False

Lean production replaced JIT in the 1990s because JIT did not address the problem of reducing waste.

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Definitions:

Provincial Tax Brackets

Various income ranges within a province that are taxed at different rates, used to determine the amount of provincial income tax individuals owe.

Market Value

The current market price for buying or selling an asset or service openly.

Equipment

Tangible property used in operations, such as machinery and hardware, that contribute to the production or service of a business.

Inventory

A company's merchandise, raw materials, and finished and unfinished products which have not yet been sold; considered an asset on the balance sheet.