Which Phrase/word Best Captures What Lean Is

question 37

Multiple Choice

Which phrase/word best captures what lean is?

• A)A set of effective,well defined tools designed to reduce waste
• B)A quantitative methodology for attacking variance
• C)A procedure to be used within operation management and supply chain systems
• D)A corporate philosophy

---

Definitions:

Insurance Policy

A contract between an insurer and a policyholder in which the insurer agrees to pay for specified losses in exchange for a premium.

Probability

A measure of the likelihood that an event will occur, often expressed as a fraction or percentage.

Independent Events

Events for which the occurrence of one does not affect the likelihood of occurrence of any of the others.

Public Transportation

A system of vehicles such as buses and trains that operate at regular times on fixed routes and are available for use by the public.