The DMADV Methodology Is Applied ______

question 47

Multiple Choice

The DMADV methodology is applied ______.

• A)when we have a process with a lot of waste or non-value added steps
• B)when we are introducing a new process
• C)when we have an existing process that is highly defective
• D)when we need to revamp a very old process

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Definitions:

Optimal Strategy

A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem, where the choice is made to maximize effectiveness or efficiency.

Oligopolists

Firms that are part of an oligopoly, possessing significant market power which allows them to influence the market's prices, output, and overall conditions.

Unique Product

A good or service that is distinct from others in the market due to its unique features, design, or branding.

Five Forces Model

A framework developed by Michael Porter used to analyze the competitive environment in which a company operates, considering five forces that shape competition.