Examlex
The amount of credit specified in a letter of credit must be taken by the beneficiary in the form of a lump-sum payment.
Freezing
In the context of project management, it refers to the process of locking in the scope and specifications of a project to prevent changes.
Production System
A system that encompasses all activities, resources, and processes involved in the production of goods or services.
Toyota Production System
A highly efficient and integrated approach to production and manufacturing, emphasizing waste reduction, continuous improvement, and customer focus.
Built-in
Embedded or integrated directly into something, not separate or removable.
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