Systems Thinking Is the Ability to Model the Components of a System

question 49

True/False

Systems thinking is the ability to model the components of a system and to connect the inputs and outputs among those components into a sensible whole, one that explains the phenomenon observed.

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Definitions:

Throughput Time

The total time taken to manufacture a product from start to finish, including processing, waiting, and transport times.

Investment Opportunity

A situation or venture that presents the potential for financial gain, often requiring an initial outlay of capital.

Margin

The difference between the selling price of a product or service and the cost of producing or purchasing it, expressed as a percentage of sales.

Delivery Cycle Time

The elapsed time from when a customer order is received until the finished goods are shipped.