Using the Formula in the Textbook the Only Parameters We

question 45

True/False

Using the formula in the textbook the only parameters we need to determine the number of Kanban card sets is the average number of units demanded over some time period, the container size, and the safety stock.

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Definitions:

Performance

The execution or accomplishment of work, acts, or tasks as required by a contract or expectation.

Agreement

A mutual understanding or arrangement, often formalized in a contract, between two or more parties to perform or refrain from performing particular acts.

Reasonable Value

The fair or market value of a service or item, considered to be value as determined by what a willing buyer would pay to a willing seller in an arms-length transaction.

Workmanlike Manner

The expectation that services or work performed will meet the standards set by skilled individuals in that trade or industry.