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According to the textbook,managers must be able to avoid the major pitfalls that were discussed.What additional advice would you add to this list? Explain your answer.
Work in Process Inventories
Items in various stages of production but not yet completed, representing a component of a manufacturer's inventory.
Lean Practices
A systematic method for waste minimization within a manufacturing system without sacrificing productivity, focusing on adding value and reducing work that is not of value.
Activity Analyses
A process in business accounting and management used to assess the efficiency and productivity of various operations within a company.
Service Businesses
A business providing services rather than products to customers.
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