Effective Time Managers, Besides Setting Priorities, Also Set _____________: Tasks

question 20

Short Answer

Effective time managers, besides setting priorities, also set _____________: tasks that are not necessary, have a minimal payoff and have very limited consequences.

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Definitions:

Optimum Production Run

The most efficient quantity of goods to produce, balancing production and holding costs to minimize total costs.

Setup Costs

Expenses associated with configuring machinery or equipment for a specific production run or job, influencing production planning and inventory management.

Inventory-Related Costs

Expenses associated with holding and managing inventory, including storage, insurance, taxes, and opportunity costs due to tied-up capital.

Optimum Lot Size

The most cost-effective quantity of items for production or purchase in a single order that minimizes total costs including ordering, holding, and inventory costs.