In Implementing a Lean Production System, You Should Work with Suppliers

question 50

Multiple Choice

In implementing a lean production system, you should work with suppliers to do which of the following?

• A) Open facilities near your factory.
• B) Focus workstation capacities.
• C) Backflush.
• D) Provide quality at the source.
• E) Reduce lead times.

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Definitions:

Midpoint Formula

A method for calculating the price elasticity of demand or supply by averaging the starting and ending prices and quantities to estimate the percentage change.

Price Elasticity

A measure of the responsiveness of demand or supply to changes in price, often used to predict the effect of pricing decisions.

Unit Elastic

A situation in economic demand or supply where a change in price leads to an equal proportional change in the quantity demanded or supplied.

Price Elasticity

A metric that shows the responsiveness of the quantity of a product demanded when its price changes.