Which of the Following Is NOT a Characteristic of a Lean

question 9

Multiple Choice

Which of the following is NOT a characteristic of a lean manufacturing system?

• A)delivery of the right product in the right quantity
• B)zero defect
• C)delivery of product the exact time a customer needs it
• D)all of the above

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Definitions:

Fair Market Value

The price at which an asset would exchange hands between a willing buyer and seller, each having reasonable knowledge of the relevant facts, and neither being under compulsion to transact.

Breach of Contract

Occurs when one party fails to fulfill their obligations under a contract, allowing the other party to seek legal remedies.

Unilateral Mistake

A situation in contract law where only one party is mistaken about a basic assumption on which a contract is made, which can impact the enforceability of the contract.

Mistake

An incorrect belief or understanding regarding a fact, judgment, or event that can affect the validity of a contract.