Materials Management Can Be Organized as Either a Cost Center

question 4

True/False

Materials management can be organized as either a cost center or a profit center.

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Definitions:

Profit-Sharing Systems

A compensation system where employees receive a share of the company's profits in addition to their regular salary.

Productivity Incentives

Motivational tools used by organizations to reward employees for achieving specific performance metrics, aiming to boost productivity and efficiency.

Methods Analysis

A system that involves developing work procedures that are safe and produce quality products efficiently.

Workstation Level

Pertains to the specific setting or environment within a workspace where individual tasks are performed, often focusing on optimization and ergonomics for productivity.