Examlex

Solved

A Temporary Endeavor Undertaken to Create a Unique Product, Service

question 52

Short Answer

A temporary endeavor undertaken to create a unique product, service, or result is a(n)_________.


Definitions:

Setup Cost

The expenses incurred to prepare equipment or processes for manufacturing an order or a batch of goods, including costs for adjusting machines, cleaning, and changing tooling.

Safety Stock

Extra inventory kept on hand to protect against stockouts caused by unpredictable demand or supply delays.

Lead Time

The total time taken from the initiation to the completion of a production process, including the time needed for all preparatory steps and actual manufacturing.

Related Questions