According to the Text,when Examining Production Activities,managers Are Quick to Recognize

question 52

Multiple Choice

According to the text,when examining production activities,managers are quick to recognize that inventory costs are a major factor and getting rid of inventory can lower labor cost by ______ or more.

• A) 15 percent
• B) 25 percent
• C) 40 percent
• D) two-thirds
• E) 75 percent

---

Definitions:

Innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Invention

The creation of a product or introduction of a process for the first time.

Diffusion

The process by which an innovation or idea spreads within a society or from one society to another over time.

Technological Advance

The process of developing new and better ways of doing things, particularly in areas like science, engineering, and manufacturing.