CRAFT Is a Process Layout Technique That Tries to Improve

question 32

True/False

CRAFT is a process layout technique that tries to improve on a current solution by exchanging two or three departments at a time to determine if total materials handling costs have been reduced.

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Definitions:

Endorsement

The signing of one’s name on the back of a negotiable instrument for the purpose of negotiating it to another.

Premiums

Payments made regularly to an insurance company in exchange for coverage, representing the cost of the insurance policy.

Co-insurance Clause

A provision in insurance policies requiring the policyholder to bear a portion of the loss by maintaining coverage of a specified percentage of the value of the property to receive full reimbursement.

Fireproof

The quality of being resistant to or capable of withstanding damage by fire.