________ Focuses on How Organizations Transform Production and Manufacturing Processes

question 69

Multiple Choice

________ focuses on how organizations transform production and manufacturing processes to improve the way that people work.

• A) ISO 14000
• B) TQM
• C) Six Sigma
• D) BPR
• E) DMAIC

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Definitions:

FOB Shipping Point

A term used in shipping agreements indicating that the buyer is responsible for paying shipping costs and for the goods at the point of departure from the seller's shipping dock.

Inventory Turnover

An indicator of the number of times a business's inventory turns over and is replenished during a certain period, demonstrating how efficiently inventory is managed.

Specific Identification Method

An inventory valuation method that tracks the actual cost of each specific item of inventory to determine cost of goods sold and ending inventory.

Average-Cost Method

An inventory costing method that calculates the cost of goods sold and ending inventory value based on the weighted-average cost of all items.