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Key Terms
Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
policy of containment
Proximity To Customers
The closeness of a business to its customers in terms of location, understanding their needs, and providing quick service.
Make-Or-Buy Policy
A decision-making process used by companies to determine whether to produce goods internally or purchase them from an external supplier.
Manufacturing And Operations
The processes involved in producing goods and managing their production in factories or plants.
Finished Product
The final output of a manufacturing process, ready for sale or distribution to the end-user.
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