Which Guiding Principle Recommends Standardizing and Streamlining Manual Tasks

question 186

Multiple Choice

Which guiding principle recommends standardizing and streamlining manual tasks?

• A) Optimize and automate
• B) Collaborate and promote visibility
• C) Focus on value
• D) Think and work holistically

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Definitions:

Inventory Holding Costs

encompass all expenses related to storing unsold goods, including warehousing, insurance, depreciation, opportunity cost, and spoilage, significant in inventory management decisions.

Pilferage

The theft of small quantities of goods, typically from an employer or a retail setting, often considered a form of inventory shrinkage.

Scrap

Material that is discarded or deemed as waste during the manufacturing process, often due to defects, excess, or irrelevance to the final product.

Obsolescence

The process of becoming outdated or no longer used, often because of the introduction of newer and more effective technologies or products.