Strategies Aimed at Reducing the Total Time It Takes to Deliver

question 73

Multiple Choice

Strategies aimed at reducing the total time it takes to deliver a product or service are called

• A)logistics management.
• B)mass customization.
• C)continuous process.
• D)time-based competition (TBC).
• E)lean manufacturing.

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Definitions:

Credit Balance

A credit balance occurs when the total credits in an account exceed the total debits, indicating the amount owed to the account holder or in the case of financial statements, to the creditor.

Factoring

A financial transaction where a business sells its accounts receivable to a third party (factor) at a discount to get immediate cash.

Nontrade Receivables

Amounts owed to a business that are not related to the sale of goods or services, such as tax refunds, advances to employees, or insurance claims.

Company Officers

Executives appointed by the board of directors responsible for managing the day-to-day operations and making major corporate decisions.