What Are the Major Objectives and Core Principles of Lean

question 99

Essay

What are the major objectives and core principles of lean?

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Definitions:

Favorable Ratio

A ratio that indicates a positive outcome, often related to financial performance, such as higher revenue or lower expenses compared to previous periods.

Acid-Test Ratio

A financial metric used to evaluate a company's ability to pay off its current liabilities with its quick assets.

Year-End Information

Financial and operational data summarizing a company's performance over the course of a fiscal year, often used for analysis and reporting purposes.

Income Statements

A financial report that shows a company's revenue and expenses, resulting in net income or loss over a specific period.