JIT, TQM, ABM, and TOC All Make a Contribution to Continuous

question 29

True/False

JIT, TQM, ABM, and TOC all make a contribution to continuous improvement and are applicable in service businesses as well as in manufacturing and retail businesses.

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Definitions:

Coordination Gains

Benefits that arise from individuals or groups working together effectively, particularly in the allocation of resources or in achieving common objectives.

Product Variety

The assortment of different products or services offered by a firm or present in a market.

Product Differentiation

The strategy of highlighting what makes a product or service unique in the market to boost its appeal to a particular target group.

Innovation

The process of transforming ideas into new or improved products, services, or processes, driving economic growth and solving problems.