Discuss the Seven Major Categories of Waste as Defined by Toyota

question 7

Essay

Discuss the seven major categories of waste as defined by Toyota Motor Company.

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Definitions:

Shipped

Refers to goods that have been transported from one location to another, usually through the use of a carrier or logistical service.

Specific Goods

Goods that are identified and agreed upon at the time a contract of sale is made.

F.O.B. New York

A shipping term indicating that the seller must deliver goods on board a vessel at the port of New York, with the buyer being responsible for freight and insurance.

Risk of Loss

The exposure to potential financial loss in a transaction, often determining who bears the responsibility if goods are damaged or lost.