The Practice of "Producing a Little Bit of Everything,everyday" Attained

question 69

Multiple Choice

The practice of "producing a little bit of everything,everyday" attained by making setup times short is known as

• A)heijunka.
• B)jidoka.
• C)andon.
• D)kanban.

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Definitions:

First-In

Often used in the context of inventory management, "First-In" refers to goods that were acquired or produced first being sold, used, or disposed of first.

Average Cost

A method of inventory valuation that determines the cost of goods sold and ending inventory based on the average cost of all similar items in inventory.

Ending Inventory

The price of stock available for transaction at the termination of an accounting interval.

FOB Destination

A shipping term indicating that the seller bears the shipping costs and remains responsible for the goods until they are received and signed for by the purchaser.