A Company That Uses Benchmarking as a Quality Improvement Practice

question 41

Multiple Choice

A company that uses benchmarking as a quality improvement practice will ________.

• A)emulate the best practices and techniques used in their industry
• B)institutionalize the not-invented-here philosophy
• C)not analyze the competition's product
• D)rely exclusively on government research for product improvements
• E)be in the furniture business

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Definitions:

Transportation Model

A type of optimization model used in logistics that determines the most efficient way to distribute goods from several suppliers to multiple destinations.

Degeneracy

A situation in linear programming where more than one solution can lead to the optimal value, or when small changes to the coefficients greatly affect the solution's outcome.

Closed Path

In graph theory, a path that starts and ends at the same vertex without traversing the same edge more than once.

Satisfactory Solutions

Decisions or outcomes that meet the minimum requirements or criteria for acceptance, often applied in contexts of limited information or resources.