The Implementation of Major Enterprise-Wide Changes to Eliminate or Significantly

question 205

Multiple Choice

The implementation of major enterprise-wide changes to eliminate or significantly reduce waste is related to which of the following concepts?

• A) Kaizen
• B) Kanban
• C) Six Sigma
• D) Lean

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Definitions:

Variable Costs

Expenses that change in proportion to the level of business activity or production volume, such as materials and labor costs.

EMV

Stands for Expected Monetary Value, a concept in risk management used to calculate the average outcome when the future includes scenarios that may or may not happen.

Setup Costs

The expenses involved in configuring a production process or equipment before manufacturing a new batch or type of product.

Variable Costs

Expenses that change in proportion to the level of production or business activity, such as raw materials, labor, and energy costs.