Choose the Word or Phrase in [ ] Which Will

question 21

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Credit life insurance is generally considered to be a [good | poor] life insurance buy.

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Definitions:

Safety Stock

Extra inventory kept on hand to protect against stockouts caused by unpredictable demand or supply delays.

Lead Time

The total time taken from the initiation to the completion of a production process, including the time needed for all preparatory steps and actual manufacturing.

Kanban Size

The quantity of work or materials specified by a Kanban card in a pull-based inventory or production control system.

Setup Cost

The expenses incurred to prepare equipment or processes for manufacturing an order, including cleaning and tooling costs.