The Major Objective of the Just-In-Time Operating Environment Is to

question 126

Multiple Choice

The major objective of the just-in-time operating environment is to

• A) create pull-through production.
• B) develop a multiskilled work force.
• C) substitute automation for manual operations.
• D) reduce waste and improve quality and productivity.

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Definitions:

Competitive Marketplace

A market structure characterized by a high level of competition among businesses, where companies strive to attract customers by offering better quality, lower prices, or other advantages.

Fair Pricing Practices

Ethical strategies and actions taken by businesses to set prices that are honest and equitable for consumers and for the market.

Foreign Currency Fluctuations

Changes in the value of a country’s currency relative to the currency of another country; can influence consumer spending.

Global Financial Impact

The effect of financial events or trends around the world on economies, markets, and individual financial status.