TABLE 5.1 Use the Table to Answer Following Question(s)

question 39

Multiple Choice

TABLE 5.1

Use the table to answer following question(s) .
-Refer to Table 5.1. The current spot rate of dollars per pound as quoted in a newspaper is ________ or ________.

• A) £1.4484/$; $0.6904/£
• B) $1.4481/£; £0.6906/$
• C) $1.4484/£; £0.6904/$
• D) £1.4487/$; $0.6903/£

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Definitions:

Rapid Changeovers

Techniques and practices implemented to reduce the time and effort required to switch a production line or system from making one product variant to another.

Mass Customization

A manufacturing approach that combines the efficiency of mass production with the ability to customize products to meet individual customer preferences.

Repetitive Process

A production process in which the same sequence of operations and tasks are repeated over and over to produce identical or very similar products.

Equipment Utilization

A measure of how effectively a piece of equipment is being used, typically expressed as a percentage, indicating the ratio of actual operating time to available time.