When a Company Has the Ability to Produce the Same

question 65

True/False

When a company has the ability to produce the same amount of goods with only half the floor space and half the labor that it used in the past, the firm is practicing flexible manufacturing.

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Definitions:

Grinding Machine Time

This refers to the amount of time a grinding machine is in actual operation to perform its designated tasks.

Additional Minute

Incremental time that may be added to a process or activity, often used in planning or scheduling to account for unexpected delays or extensions.

Existing Capacity

Refers to the maximum production volume or service level that an organization can currently achieve with its existing resources and facilities.

Financial Advantage

The benefit gained in terms of money, that gives an individual or business a better position compared to others.