Timken Company Illustrates the Application of Lean Principles When It

question 21

Multiple Choice

Timken Company illustrates the application of lean principles when it _____.

• A) reduces the total cycle time for new product development
• B) increases safety stock in its inventory system
• C) expands factories and distribution centers
• D) maximizes the number of parts or items in its systems

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Definitions:

Unconscionability

A legal doctrine that describes terms that are so extremely unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.

Consumer Misbehavior

Actions by consumers that violate the accepted norms or ethics in a marketplace, such as fraud or theft.

Innocent Misrepresentation

A false statement made by someone who believes it to be true, which induces another to enter into a contract.

Compensatory Damages

Monetary awards in a lawsuit intended to compensate the plaintiff for actual losses or damages suffered.