Which of the Following Activities Is the Least Costly and Least

question 101

Multiple Choice

Which of the following activities is the least costly and least risky method for selling a product on the global market?

• A) licensing
• B) exporting
• C) franchising
• D) contract manufacturing

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Definitions:

Toyota Production System

An integrated socio-technical system developed by Toyota to efficiently organize manufacturing and logistics, including the interaction with suppliers and customers.

TPS

Stands for Transaction Processing System, a type of information system that collects, stores, modifies, and retrieves the transactions of an organization.

JIT Partnerships

Refers to Just-In-Time partnerships, a collaboration between suppliers and manufacturers to ensure materials are delivered just in time for production, reducing inventory costs and enhancing efficiency.

Variability

Variability refers to the extent to which data points in a set differ from the average value.