Which of the Following Contributes to the Competitive Advantage Enjoyed

question 57

Multiple Choice

Which of the following contributes to the competitive advantage enjoyed by service firms using lean concepts?

• A)backup employees to cover for absenteeism
• B)one hundred percent inspection to remove defects
• C)dedicated equipment to reduce unit costs
• D)safety stocks to prevent stockouts
• E)greater flexibility to cope with change

Comprehend the influence of public figures and movements on the acceptance of alternative medicine.

Identify the basis and techniques of various alternative therapies including chiropractic, acupuncture, and massage therapy.

Understand the regulatory and research factors affecting CAM, including key organizations like the National Center for Complementary and Alternative Medicine.

Grasp the principles of mind-body interaction and the holistic nature of health according to different medical philosophies.

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Definitions:

Direct Labor

The cost of wages for employees who directly manufacture products or provide services, considered a variable cost in production.

Direct Materials

Raw materials that can be directly attributed to the production of finished goods and are an integral part of the finished product.

Period Cost

Expenses incurred during a specific period of time that are not directly tied to the production of goods or services.

Prime Costs

consists of the direct costs directly attributable to the manufacture of goods, specifically direct materials and direct labor.