MATCHING Complete the Following Using the Terms Listed

question 53

Multiple Choice

MATCHING
Complete the following using the terms listed.
-The _____ is the first step in a company's production plan.

• A)process layout
• B)LEED certification
• C)Gantt chart
• D)PERT chart
• E)Inventory control
• F)ISO
• G)critical path
• H)Computer-integrated manufacturing
• I)Utility
• J)perpetual inventory
• K)Materials requirement planning
• L)standardization
• M)Routing
• N)assembly line
• O)robot
• P)just-in-time
• Q)benchmarking
• R)synthetic production system
• S)make, buy, or lease decision

---

Definitions:

Four-Firm Sales Concentration Ratio

The percentage of total industrial sales accounted for by the four largest firms within a specific market, used to measure the degree of market concentration.

Geographic Concentration

The phenomenon of economic activity or specific industries clustering in specific regions or areas.

X-Inefficiency

Occurs when a firm fails to utilize its resources efficiently, due to factors like lack of competitive pressure or managerial inefficiencies.

Homogeneous Product

A product that is considered identical or nearly identical to another product from a different producer.