Metrics Often Used to Monitor the Performance of Lean Supply

question 3

Multiple Choice

Metrics often used to monitor the performance of lean supply chains include ______.

• A)days of inventory on hand
• B)return on investment
• C)employee turnover
• D)absenteeism rates

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Definitions:

FR(%)

A notation often representing failure rate percentage, signifying the likelihood of a component or system failing within a specific time period.

FR(N)

A notation often used in reliability engineering to refer to failure rate functions.

MTBF

Mean Time Between Failures, a reliability metric that denotes the average time between failures of a system or component.

Product Reliability

The likelihood that a product will not fail within a specific period under specified conditions.