If Setup Times and Costs Can Be Reduced Enough, the JIT

question 71

True/False

If setup times and costs can be reduced enough, the JIT ideal of "Lot Size = 1" can be achieved.

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Definitions:

Innovation

The introduction of something new, such as a method, idea, or product, intended to improve efficiency, effectiveness, or competitive advantage.

Competitiveness

The ability of a company or country to achieve and maintain a favorable position in the market compared to others, based on factors like price, quality, and innovation.

Transportation Model

A type of linear programming model used to solve logistics problems, involving the optimization of distributing goods from several suppliers to several consumers in a cost-effective manner.