With Respect to the Various Tools Used in Lean Thinking

question 62

Multiple Choice

With respect to the various tools used in lean thinking, in the _____ system, upstream suppliers do not produce until the downstream customer signals a need for parts.

• A) pull production
• B) kaizen
• C) reduced handoff
• D) standardized work system

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Definitions:

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return, used in evaluating investment opportunities.

Supply and Demand

An economic model explaining how the price and quantity of goods and services are determined in a market.

Rent

A periodic payment made for the use of land or a building to the owner by the tenant.

Wages

Payments made to workers for their labor, typically calculated on an hourly, daily, or piecework basis.