A Basic Requirement for Operating with the Low Inventories Present

question 80

Multiple Choice

A basic requirement for operating with the low inventories present in lean systems is

• A)Inventory space must be increased.
• B)Inventory investment must be increased.
• C)Major problems must be identified.
• D)Major problems must have been solved.
• E)Inventories must be reduced rapidly.

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Definitions:

Learning Curves

Graphs that demonstrate the rate at which people learn a new skill or the performance improvement of an algorithm over time.

Budgets

Financial plans that estimate revenue and expenses over a specified period.

Learning Curves

A graphical representation that shows how increasing the volume of production decreases the cost per unit due to learning and efficiency improvements.

Labour

It is the human effort, physical or mental, contributed towards the production of goods and services.