What Are the Consequences of Unstable Demand and Interrupted Flows

question 58

Essay

What are the consequences of unstable demand and interrupted flows on a supply chain managed with a Lean philosophy?

Understand the principles of mutual exclusivity and joint exhaustiveness in classification.

Identify and organize concepts according to levels of organization.

Recognize the use of consistent principles in classification.

Distinguish between essential and non-essential attributes for classification.

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Definitions:

Workers

Individuals engaged in any form of employment for compensation.

Firm

A business organization or entity engaged in commercial, industrial, or professional activities, designed to provide goods or services for profit.

Hire

The act of giving someone a job; it involves agreeing to employ an individual under specified terms.

Marginal Product

The rise in production resulting from one more unit of input, while keeping all other inputs unchanged.