The Theory of Constraints (TOC)is

question 6

Multiple Choice

The theory of constraints (TOC) is

• A) a strategic technique primarily used to reduce waste.
• B) a strategic technique used to help firms effectively improve the rate at which raw materials are converted to finished goods and then money through sales.
• C) a strategic technique used to balance capacity across all resources.
• D) all of the above.

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Definitions:

Involuntary Bailment

A situation where an individual unintentionally comes into possession of someone else's property and has a legal duty to take care of it.

Bailor

The owner giving up possession of property in a bailment.

Bailee

The person acquiring possession of personal property in a bailment.

Gratuitous Bailment

A situation where property is voluntarily transferred into another's custody without expectation of payment.