Dynamic Process Modeling Takes a Basic Process Flowchart and Puts

question 11

True/False

Dynamic process modeling takes a basic process flowchart and puts it into motion,using computer simulation techniques to facilitate the evaluation of proposed process changes.

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Definitions:

Significant Quantities

Items or entities in considerable amounts that are large enough to warrant attention or impact assessment.

Inventory

Inventory refers to the goods and materials that a business holds for the ultimate goal of resale or processing, including raw materials, work-in-progress, and finished goods.

Manufacturing

The process of converting raw materials or components into finished goods through the use of tools, machinery, and labor.

Wholesale

The sale of goods in large quantities at lower prices, typically to retailers who then sell them to the final consumer.