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Which of the following is a false statement?
Setup Times
The duration required to prepare equipment, tools, and machinery for a specific task or to switch from one production operation to another.
Lot Size
The quantity of items that are processed, ordered, or delivered at one time.
JIT Suppliers
Suppliers that adhere to Just-In-Time manufacturing principles, delivering materials and components exactly when needed, minimizing inventory costs.
Holding Cost
The cost associated with keeping inventory in storage, including expenses such as warehousing, insurance, and spoilage.
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