Analyzing Process Flow and Eliminating Waste Is Referred to as

question 53

Multiple Choice

Analyzing process flow and eliminating waste is referred to as

• A)just-in-time.
• B)the Toyota Production System.
• C)value stream mapping
• D)total productive maintenance.

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Definitions:

Income Statement

A financial report detailing a company's incomes, costs, and net earnings during a defined timeframe.

Contribution Margin

The amount by which a product's selling price exceeds its total variable costs, contributing towards covering fixed expenses and generating profit.

Unit

A single, distinct item or entity that is a part of a larger group, system, or measure.

Break-Even Point

The point where the amount of goods produced or sold matches the total costs, leading to neither profit nor loss.