When a Firm Changes to a JIT Operating and Management

question 39

Multiple Choice

When a firm changes to a JIT operating and management philosophy,

• A) it attempts to increase the number of suppliers it has for each item it uses to ensure a reliable flow of materials into the production process.
• B) it seeks out the lowest-cost bidder for supplies in order to minimize costs.
• C) it works more closely with fewer suppliers.
• D) all of these are correct.

Identify and describe the stages of the eukaryotic cell cycle and factors influencing cell division.

Understand the definition and implications of community property in states where it is recognized.

Identify the components and limitations of real property.

Understand the concept of estates and different ownership interests in real property.

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Definitions:

Utility-Maximizing

A principle in economics where consumers allocate their income to purchase goods and services that provide the highest satisfaction or utility.

Staples

Basic or essential food items and products that are consumed regularly and necessary for daily living.

Paper Clips

Small pieces of bent wire or plastic used for holding sheets of paper together.

Utility-Maximizing

The process by which individuals choose consumption bundles that will give them the greatest amount of satisfaction or utility.