The Time It Takes the Marketing Department to Specify to the Manufacturing

question 30

Multiple Choice

The time it takes the marketing department to specify to the manufacturing department the exact requirements of the customer's order is referred as ________.

• A) receipt time
• B) waiting time
• C) delivery time
• D) manufacturing cycle time

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Definitions:

JIT Partnerships

Collaborative relationships between suppliers and companies to ensure just-in-time delivery of inventory, reducing waste and improving efficiency.

Small Lot Sizes

The production strategy that involves manufacturing smaller quantities of items to reduce inventory levels and respond quickly to customer demands.

Diversification

Diversification is a risk management strategy that involves spreading investments across various financial instruments, industries, or other categories to minimize risk.

JIT Systems

Systems based on the just-in-time principle that focus on continuous improvement by eliminating waste and only producing what is needed, when it is needed.