Which of the Following Quality Philosophies Is Correctly Paired with Its

question 64

Multiple Choice

Which of the following quality philosophies is correctly paired with its strategy?

• A)lean: improving quality by reducing the number of defects
• B)Six Sigma: eliminating waste
• C)agile manufacturing: using technology to integrate different operations
• D)TQM: expediting rework

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for costs of production, such as wages, rent, and materials, that a company incurs in conducting its business.

Implicit Costs

Costs that represent the opportunity cost of using resources that a business already owns, rather than explicit outlays of cash.

Total Revenue

The total amount of money received by a company from selling goods or services before any expenses are subtracted.

Explicit Costs

Direct, out-of-pocket payments for resources or services used in the production of goods or services.