The Most Successful Firms Are Getting Leaner by Focusing on Their

question 189

Multiple Choice

The most successful firms are getting leaner by focusing on their core competencies, but these new business models call for

• A) environmental management.
• B) unprecedented coordination.
• C) new corporate boundaries.
• D) unprecedented funds.
• E) none of these is correct.

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Definitions:

TPS

Toyota Production System, a highly influential production philosophy focused on eliminating waste, improving productivity, and achieving efficiency in manufacturing.

Kanban Size

Refers to the capacity or limit set for a kanban, a tool in lean manufacturing and just-in-time production, which signals when more materials or work is needed.

Setup Cost

A fixed cost incurred each time a production process or activity is initiated, which includes costs associated with preparing equipment and facilities for manufacturing.

Carrying Cost

The expenses associated with storing and maintaining inventory, including warehousing, insurance, and spoilage costs.