Value Stream Mapping

question 9

Multiple Choice

Value stream mapping:

• A)Is a simplified version of process mapping.
• B)Uses the same terminology and symbols used in typical process mapping.
• C)Is another name for a future state map.
• D)Relies on computer-assisted flowcharting.
• E)Is more comprehensive than typical process mapping.

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Definitions:

Lot Sizes

The quantity of items that are processed, produced, or purchased at one time.

Cycle Inventory

Inventory that is held or maintained in the supply chain to facilitate the regular, ongoing production and distribution of goods.

Flow Time

The total time it takes for a product to move through a production process, from start to finish.

Economies of Scale

Cost advantages obtained due to increased production scale, where the cost per unit of production decreases with larger volume.