Two Common Measures to Evaluate Supply-Chain Efficiency Are the Consumer

question 23

True/False

Two common measures to evaluate supply-chain efficiency are the consumer price index and the beta flow system.

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Definitions:

Average Cost Method

An inventory costing method where the cost of goods sold and ending inventory values are determined by averaging the costs of all items available for sale during the period.

Average Costing

An inventory costing method where all units are valued at the average cost of all similar items in the inventory.

Process Costing

An accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process, then assigns them to products.

Lean Manufacturing

A manufacturing enterprise that uses lean principles.