Write the Ratio as a Fraction and Reduce to Lowest

question 94

Multiple Choice

Write the ratio as a fraction and reduce to lowest terms. 20:14

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Definitions:

Multiple Sourcing

The strategy of procuring a particular product or service from more than one supplier in order to reduce dependency on any single source and increase reliability and competitiveness.

Bottleneck Items

Items or stages in a process that significantly delay production or throughput due to their limited capacity or efficiency.

Total Cost of Ownership

Encompasses the comprehensive assessment of the direct and indirect expenses associated with acquiring and operating a product or system over its entire lifespan.

Acquisition Time

The duration it takes from recognizing a need for goods or services until they are fully delivered and operational.