In a Lean Production System, We Expect to See Which

question 81

Multiple Choice

In a lean production system, we expect to see which of the following?

• A) No extra inventory
• B) Extra inventory of critical parts held "just-in-case"
• C) More parts and fewer standardized product configurations
• D) Managers being held responsible for quality of the work turned out
• E) Closer management-labor relationships

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Definitions:

Expenses

Costs incurred in the process of earning revenue, often categorized into operating and non-operating expenses.

Balance Sheet

An accounting statement that itemizes the total assets, liabilities, and equity of shareholders at a defined date.

Accounts Payable

Liabilities owed by a business to its suppliers or vendors for goods and services purchased on credit.

Net Income

The earnings a company retains following the deduction of all costs and taxes from its revenue.