Describe Any Five of the Wastes Identified by the JIT

question 8

Essay

Describe any five of the wastes identified by the JIT philosophy.

Recognize the role of primary keys in establishing relationships between tables.

Understand how multidimensional databases store data.

Learn the relevance of database systems in storing and organizing data across various dimensions.

Master the matching of database terms with their definitions to deepen understanding of database vocabulary.

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Definitions:

Cost of Goods Sold

Cost of Goods Sold is the direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Quantity Discount

A price reduction offered to buyers purchasing in large volumes or amounts.

Inventory

Materials or goods a business holds for the purpose of resale or production, representing a current asset on the balance sheet.

Operating Expenses

Regular costs incurred in the operation of a business, such as wages, utilities, and rent, excluding cost of goods sold.