An Approach to Managing Inventories and Production Operations Such That

question 154

Multiple Choice

An approach to managing inventories and production operations such that units of materials and products are obtained and provided only as they are needed is called:

• A) Continuous improvement.
• B) Theory of constraints.
• C) Total quality management.
• D) Customer orientation.
• E) Just-in-time manufacturing.

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Definitions:

Stock

An ownership share in a company that represents a claim on part of the corporation's assets and earnings.

Contract Rate

The agreed-upon interest rate specified in a contractual agreement, such as a loan or bond.

Bond

An interest-bearing note payable usually in $1,000 denominations issued by a corporation to a large group of lenders.