Lean Operations Reduce the Number of Suppliers the Organizationworks with by Limiting

question 41

True/False

Lean operations reduce the number of suppliers the organizationworks with by limiting contacts to two tiers of suppliers.

Distinguish between different types of teams, such as virtual, self-managed, and cross-functional.

Understand challenges in instilling shared mental models in cross-functional teams due to diverse backgrounds.

Become aware of the potential flaws in virtual teams, including issues related to information sharing and miscommunication.

Recognize the necessity of training for the effectiveness of cross-functional teams.

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Definitions:

Aggregate Supply Curve

A graphical representation showing the relationship between the overall price level in the economy and the total output produced by firms.

Fixed Costs

Expenses that do not change with changes in the level of production or sales, such as rent, salaries, and insurance premiums.

Marginal Cost

The expense incurred from manufacturing an extra unit of a product or service.

Average Cost

The total cost of production divided by the number of goods or services produced, often used to determine profitability.