The Initial Step in Achieving the Efficiency of a Just-In-Time

question 7

Multiple Choice

The initial step in achieving the efficiency of a just-in-time system is to

• A)redesign the plant layout.
• B)replace laborers with machines.
• C)stop ordering materials for inventory.
• D)identify products that are not profitable.

---

Definitions:

Ownership of Property

The legal right or title to possess, use, and control an asset or property.

Percentage of Profits

A portion or share of the profits generated by a business or investment, expressed as a percentage of the total profits.

Loan Repayment

The process of paying back borrowed money, typically in installments, to the lender.

Written Partnership Agreement

A legally binding document that outlines the terms, conditions, and operations of a partnership between two or more parties.