The Ultimate Goal of Lean Operations Is to Have

question 56

Multiple Choice

The ultimate goal of lean operations is to have:

• A) no in-process inventories.
• B) cross-trained workers capable of handling every process.
• C) a smooth, rapid flow of materials through the system.
• D) no setup times.
• E) all of the choices.

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Definitions:

Financial Reports

Papers that give a summary of a corporation's financial health, including statements of financial position, statements of comprehensive income, and statements of cash flows.

Earnings Forecasts

Predictions of earnings for the future accounting period, prepared by financial analysts.

Intangible Assets

Non-physical assets that have value, such as patents, trademarks, goodwill, and intellectual property.

Balance Sheet

A financial statement that presents a company's assets, liabilities, and shareholders' equity at a specific point in time, showing what the company owns and owes.