Complete the Following Using the Terms Listed

question 146

Multiple Choice

Complete the following using the terms listed.
-An inventory system that seeks to eliminate anything that does not add value in operations activities by providing the right part at the right place at just the right time is called a(n) _____ system.

• 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

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Definitions:

Possessing

The act of owning or having certain goods, assets, or properties under one's control.

Leased

Pertains to a contractual agreement where one party, the lessor, grants another party, the lessee, the use of an asset for a specified time in exchange for payment.

Ownership Rights

Legal rights to possess, use, and dispose of assets or properties.

Sell

The act of exchanging a product or service for money or other compensation.