Match the Options Below with the Correct Phrase

question 80

Multiple Choice

Match the options below with the correct phrase:
-process improvement team

• A)projects that uncover information useful to create a variety of new materials, processes and products
• B)the use of statistical tools and methods to determine quality
• C)How are we doing? and What are the problems?
• D)employees think and act like owners
• E)a total strategy for continually improving throughout the entire organization
• F)their purpose is to make a process better
• G)a cross-functional team to assess the progress toward goals
• H)determines if a process is predictable or unpredictable

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Definitions:

Forward Buying

Purchasing inventory in larger quantities than immediately needed, often in anticipation of price increases or high demand periods.

Lot Size

The quantity of items that are produced, purchased, or moved in a single batch or order.

Cycle Inventory

Inventory that companies maintain to facilitate production in batches or cycles, as opposed to continuous production.

Quantity Discounts

Price reductions offered to customers purchasing in large volumes, incentivizing bulk purchases and often used to reduce inventory holding costs.