In Lean Production,a Strong Relationship Exists Between Setup Times and Small

question 36

True/False

In lean production,a strong relationship exists between setup times and small lots.

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Definitions:

Process Innovation

The development and use of new or improved production or distribution methods.

Total Product Curve

A graphical representation showing how the total quantity of output produced by a firm varies with the quantity of a single variable input, holding other inputs constant.

Average Total Cost Curve

A graph that represents the total cost of production (fixed and variable costs combined) divided by the quantity of output produced, at various levels of output.

Diffusion

The spread of an innovation through its widespread imitation.