Toyota Production System Is Another Term for a Lean System

question 22

True/False

Toyota production system is another term for a lean system.

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Definitions:

Individualized Contracts

Contracts that are specifically tailored to the unique needs and circumstances of the parties involved, often requiring extensive negotiation.

Severance Pay

Compensation paid to an employee upon termination of employment, often based on length of service.

Reasonable Notice

The adequate period of time that must be given prior to taking certain legal actions, such as terminating employment or altering contractual terms.

Profit Sharing

A compensation structure where employees receive a share of the company's profits, often as a form of incentive or reward.