Lean Production Replaced JIT in the 1990s Because JIT Did

question 44

True/False

Lean production replaced JIT in the 1990s because JIT did not address the problem of reducing waste.

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Definitions:

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.

Lease Payments

Regular payments made by a lessee to a lessor for the use of an asset.

Cost of Funds

The interest rate that financial institutions pay for the use of money or funds they lend out to borrowers.

Principal

Principal refers to the original sum of money borrowed in a loan or invested, exclusive of any interest or dividends.